Assessing Puerto Rican commercial banks’ contributions to the United Nations Sustainable Development Goals

This study delves into the pivotal role of Puerto Rican commercial banks in promoting the United Nations (UN) Sustainable Development Goals (SDGs). Employing a robust four-step methodology adapted from Aguado-Correa et al. (2023), Arena et al. (2023), and Cosma et al. (2020), the research offers a comprehensive approach to addressing the research questions. The methods encompass qualitative analyses through manual content analysis of non-financial disclosures (NFD) and advanced artificial intelligence (AI) processing of sustainability reports. Subsequent quantitative analysis includes calculating a compound index and utilizing a multi-criteria decision-making method. The significance of this research lies in its exploration of an underexamined area: the financial sector’s involvement in sustainable development (SD) in Puerto Rico. Moreover, it introduces a novel methodological innovation by integrating AI in the analysis of sustainability reports. The findings reveal the proactive engagement of Puerto Rican commercial banks in SD, evident through dedicated web pages and standalone sustainability reports. Notably, larger banks demonstrate a stronger commitment by focusing on aspects of social sustainability. These findings underscore the potential of the financial sector to drive SD in Puerto Rico, providing valuable insights for policymakers and stakeholders to enhance sustainability practices and reporting in emerging economies.