Authors
Gunjan Prakash
Abstract
In every aspects of Business, “Go Green” Mantra has become relevant in the environment friendly society. All the business activities are drastically being changed to focus on the profit and on people and planet. Just because of the profits, business cannot run due to the environment consciousness and awareness. Every sphere organizations have to be more sensitive for the move towards the green economy and such areas are Green Baanking. Green Banking ensures the environment friendly practices in banking sectors to reduce the interior and exterior carbon footprints. Having a green standard as an advancing belief has a broader view. Banking industry impacts on the environment due to increase enery (lighting, air conditioning) and paper consumption, although it is usually considered as the pollution free industry. This paper presented a review on Green banking and to discover the chief issues in the application of this occurrence. In the adaptation of green practices, public sector banks are keener than the private sector banks. Keywords: Green Banking, Sustainanbility, Financial Institutions, Indian Banks Initiatives Keywords: Green Banking, Sustainanbility, Financial Institutions, Indian Banks Initiatives
Introduction
It is not the wise idea for the business to ignore the awaress and environmental consciousness for the society and the environment.In the management of the business, green movement has braught abot a change. It is a step near to the green economy where each and everyone, whether employees, customer, employer or an overall public should have concern for the ecosystem. The involvement of the people in the eco-friendly green practices are now extended to the administrations where sustaining ability is the crucial matter. Each action needs to be ecologically accountable because it is essential to address the green issues in this current era. Go Green mantra become applicable in every single facet of business in the environment friendly society.
What is Green Banking?
Guaranteeing eco-friendly applications in the banking sectors to reduce the interior and exterior carbon footprints is named as Green Banking, it is not any separate bank. Polluting industry does not involve the banking industry. Banks can aid to environment by confirming ecologically accountable deal and prudently assessed offerings as it is a source of funds. Green Banking has two facets, in which initial one is cautious in making the use of all assets, energy and reducing carbon footprints, and the final one is to encourage and finance only eco-friendly deal. Green Banking is about environment friendly release of credit along with making sustainable use of resources. The first Green Bank is based in Mt. Dora, Florida, United States and it brings forth the concept of Green Banking in 2009. RBI established the Institute for Development and Research in Banking and Technology, according to which Green Banking is an umbrella which refers to the does and procedures making the bank’s economy, environment and social dimensions sustainable. The main aim of this is to make zero impact on the environment by making the banking procedures and the use of information technology and bodily structure effective and competent. According to this information, it offers procedures for geen banking in two levels based on the nature of banking processes and infrastructures which are:
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