Year : 2019, Volume : 9, Issue : 4
First page : ( 89) Last page : ( 99)
Print ISSN : 0000-0000. Online ISSN : 2249-6270. Published online : 2019  1.
Article DOI : 10.5958/2249-6270.2019.00066.7

A strategic approach towards sustainable environmental management through green banking

Prabhu Geetha¹, Lecturer

¹Department of Commerce, Address for communication: Bhandarkars’ Arts & Science College, Vadera Hobli Post, Kundapur-576201, Udupi District

Abstract

Change is the need of hour for survival in all spheres. Climate is most complicated issue the world is facing. The world has seen much focus on economic progress, the side effects of this, has resulted in climate change and environmental damage. The banks can play an important role between economic growth and environmental protection. The banking of this kind is termed as “Green Banking”. It means combining technology and changing client habits in banking business. The practices will be useful not only for environment but also lead to cost reductions in banking activities, thereby reducing internal and external carbon footprints. Broader view is having green criteria as a lending principle. Banking industry is generally not considered as polluting industry. But it impacts the environment in terms of increasing energy consumption (lighting, air conditioning), paper consumption etc. Hence, the banks are attempting to be environmentally as well as socially conscious and thus, giving emphasis to the ethical aspects of doing business. Only secondary data is used in this research. The paper aims to analyze the concept of green banking and also to study a few initiatives undertaken by two important Indian banks viz, Axis Bank and ICICI Bank for sustainable Eco-Friendly banking. Further the paper also highlights the findings of the study and offers suggestions on basis of findings.

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Keywords

Axis Bank, ICICI Bank, Green banking, Banks.

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