ISSN: 2455-0353
Dr. Monika Gupta, Associate Professor, Department of Commerce, Motilal Nehru College
Dr. Shivani Abrol, Associate Professor,Department of Commerce, Zakir Husain Delhi College
Piyalee Bhattacharya, Audit Assistant, Deloitte
Due to increasing industrialization, global warming and other environmental degradation have become critical issues. It is not an individual economic problem, but a global challenge,and rapid economic growth can only be achieved if every industry contributes to a sustainable environment. Banks can play an important role in contributing towards a sustainable environment and green world through green banking initiatives. Green banking means performing normal banking functions using environment-friendly technologies. In recent decades, there has been a worldwide emphasis on eco-friendly banking. India is likewise doing its best to promote environmentally responsible banking. The present paper is an attempt to assess the current condition of green banking in India and the manner in which Indian banks are prioritising sustainable development investment. In order to accomplish this objective, a comparison of two public and two private sector banks has been performed. In addition, this research also investigates the potential for green banking in India in the future. The study finds that Indian banks have expanded beyond just offering online services to include carbon neutralisation, support for environmentally conscious projects, waste management, and other relevant fields. It is suggested that there is still room for the promotion of additional green banking initiatives in India so that a variety of small banks can also make substantial contributions to green banking. The findings of the study may assist bank regulators and other regulatory bodies in determining the growth potential of green banking in India.
Keywords:
Banks, Green Banking, Carbon Neutralization, Sustainable Environment.
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