The Social Dimension of ESG Reporting in Systemically Important Financial Institutions in Germany: Between Regulatory Compliance and Strategic Transformation

Anna Dąbkowska; Mirosław Urbanek

doi:10.18290/pepsi-2025-0018

Published : 2025-12-31

Vol. 31 No. 2 (2025)

The Social Dimension of ESG Reporting in Systemically Important Financial Institutions in Germany: Between Regulatory Compliance and Strategic Transformation

Anna Dąbkowska

https://orcid.org/0000-0002-9344-1387

Mirosław Urbanek

https://orcid.org/0000-0001-9545-6921

DOI: https://doi.org/10.18290/pepsi-2025-0018

Abstract

The article examines the social dimension of corporate social responsibility (CSR) in Germany’s systemically important financial institutions (G-SIIs): Deutsche Bank AG, Allianz SE, and Munich Re AG. Using a comparative content analysis of 2024 non-financial and ESG reports, the study evaluates how these institutions implement social sustainability in line with the EU’s CSRD and ESRS frameworks. Findings reveal that all three institutions have achieved a high level of maturity in social reporting, integrating mandatory disclosures with their own strategic indicators. Deutsche Bank emphasizes data ethics and inclusivity (AI & Data Ethics KPI), Allianz focuses on employee wellbeing and diversity (Diversity Balance Index), while Munich Re integrates social responsibility into insurance operations (Claims with Social Impact Ratio). Overall, the results indicate a shift from compliance-based reporting toward a strategic integration of social aspects within business models, confirming the role of German G-SIIs as leaders in shaping ESG transparency and social accountability across the European financial sector.

Keywords:

ESG, CSR, G-SII, social responsibility, non-financial reporting

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Dąbkowska, A., & Urbanek, M. (2025). The Social Dimension of ESG Reporting in Systemically Important Financial Institutions in Germany: Between Regulatory Compliance and Strategic Transformation. Journal for Perspectives of Economic Political and Social Integration, 31(2), 105–140. https://doi.org/10.18290/pepsi-2025-0018

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