Green Banking Practices - A Review in Select Banks of India

Abstract

The “Go Green” concept has become significant in every facet of business in today’s environmentally conscious culture. With all company activities, there is a need to focus on people and the environment rather than just on profits as businesses can no longer operate only for profits. The concern towards environment results a shift toward green economy, and businesses must be environmentally conscious in all aspects of their operations. Green banking is one of the initiatives in this direction. Green banking entails ensuring environmentally friendly practices in the banking sector and, as a result, lowering internal and external carbon footprints. A broader perspective is that green criteria should be used as a lending principle. The banking industry isn’t often thought of as a polluter. However, it has a negative influence on the environment because it increases energy use lighting, air conditioning and paper consumption. The paper reviews the green banking practices among select banks in India & to identify the challenges associated with implementing this eco friendly phenomenon.