Deeds speak louder than words – the role of ESG factors and climate literacy in shaping consumer trust in Polish banks

The growing importance of environmental, social, and governance (ESG) factors has influenced the shaping of social attitudes while also having a significant effect on the banking sector and its approach to business strategy development. The aim of this study is to assess the degree of consumer sensitivity to ESG issues within the Polish banking sector and to analyse how these attitudes shape trust in this sector. The attitudes of Polish society in this context are evaluated on the basis of 1,039 computer-assisted web interviews (CAWIs) conducted in May 2023. The data collected from the survey are then analysed via logistic regression. The findings of the study indicate that consumers are more sensitive to social factors than to environmental factors within the ESG context. However, as shown by respondents' answers, the impact of environmental issues on the overall level of trust and public perception of banking institutions should not be underestimated. The results of this study also highlight the significant role of climate literacy among respondents in shaping trust in banks whose activities negatively affect the natural environment.