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Research Paper | Economics | India | Volume 12 Issue 6, June 2023
Impact of Green Banking on Environment: A Synergistic Paradigm Shift in Indian Banking Strategies
Abstract: Green banking encompasses the adoption of environmentally friendly practices within the banking sector to mitigate its impact on the environment. This involves promoting paperless transactions, supporting eco-friendly initiatives, and funding sustainable projects. The integration of green banking practices allows banks to contribute to both economic development and environmental preservation by reducing their carbon footprint and supporting sustainable investments. Furthermore, reducing energy consumption and embracing renewable energy sources are crucial steps in achieving long-term sustainability. The implementation of green banking practices not only benefits the environment but also aligns with the goal of fostering a greener and more sustainable future for the banking industry and society as a whole.This paper discusses the importance of green banking in addressing climate change, emphasizing the need for banks to adopt green policies. It explores green rating standards, environmental norms, and initiatives by Indian banks. Strategies include integrating environmental considerations, promoting renewable energy financing, and encouraging sustainable practices. Challenges and benefits are examined, stressing the importance of prioritizing sustainability. The paper aims to inspire banks and stakeholders to adopt green banking practices for a greener future.
Keywords: Green Banking, Online Banking, Paperless Banking, Environmental Friendly Banking and Sustainable Development
Edition: Volume 12 Issue 6, June 2023,
Pages: 981 - 988