Green Behavior: Factors Influencing Behavioral Intention and Actual Environmental Behavior of Employees in the Financial Service Sector

Abstract

The financial sector, too, is developing innovative services and products that have the potential to make a more positive impact on global environmental goals. However, research sheds little light on environmental attitudes and behavioral patterns of employees in this sector. There are multiple factors promoting or inhibiting environmental behavior. Those factors may be rooted in individual or subjective norms, but also social influence and to some extent financial incentives and benefits. A survey concerning the intention to improve and actually show ‘green behavior’ was developed based on widely used acceptance models which differentiate between desirable behavior and the intention to show such behavior. Employees are predominately responsive towards environmental behavior: 20% are convinced of the need to act in a “green” and sustainable manner, only 5% are hard to win over or are not accessible at all. Financial loss or benefits combined with social motives contribute to sustainable living whereas financial benefits alone actually hinder such behavior. The study underlines the existence of a intention-behavior gap: The intention to behave sustainably is built somewhat separately from various influences. There are moderating factors like sex, age and family status that influence the decisions. This then leads to a gap between intention and actual behavior.