Green banking initiatives: a qualitative study on the banking sector

Abstract

In this article, the work carried out to improve the practice of financing green projects by commercial banks, as well as the continuous and systematic processes of improvement through simple use, technical and physical infrastructure, personal data protection and security, as well as providing service according to international standards showing, efficient use of material resources and taking into account other indicators.The Banking industry plays an important role in economic growth and environmental protection by promoting environmentally sustainable and socially responsible institutions. The banking of this kind can be termed as “Green Banking”. Change is the need of the hour for survival in all spheres. Banks can provide important leadership for the required economic innovation that will provide new opportunities for financing and investment policies. Green Banking means combining operational improvements, technologies and changing client habits in banking business. Adoption of Green Banking practices will not only be useful for environment, but also benefit in greater operational efficiencies, a lower vulnerability to manual errors,fraud, and cost reductions in banking activities.