Paper Contents
Abstract
In an environment-friendly society, the mantra "Go Green" has become relevant in every aspect of business. All business activities are undergoing a wave of change to focus not only on profit, but also on people and the planet. Because of environmental awareness and awareness, businesses can no longer run solely on profit. There is a shift towards a green economy and organizations must be environmentally sensitive in every area. One such area is green banking. Green banking means ensuring environmentally friendly practices in the banking sector, thereby reducing both internal and external carbon footprints. A broader view has green criteria as a lending principle. The banking sector is generally not considered a polluting industry. But it has an impact on the environment in terms of increasing energy consumption (lighting, air conditioning), paper consumption. This article attempts to review the literature on green banking and find the main problems in the implementation of this green phenomenon. The study highlights a lack of consumer awareness and education as the main obstacle. Public sector banks are more keen in adopting green practices as compared to private banks. SBI is taken as an example to show what all steps banks can take to face green challenges. The purpose of this post is to highlight the green banking practices adopted in India and their importance for environmental protection and sustainable ecological balance. The methodology used for this article is mainly a theoretical framework created based on various secondary sources such as published articles, websites, government reports, etc. This study could benefit policy makers and researchers in understanding various greenKeywords: Green finance; Green banking; Green initiatives; sustainable development; environmental protection; sustainable ecological balance, Carbon footprints.
Copyright
Copyright © 2024 Dr.Asha Shivaji Patil. This is an open access article distributed under the Creative Commons Attribution License.
