.

ISSN 2063-5346
For urgent queries please contact : +918130348310

Green Banking Practices and Strategies: A Step Towards Sustainable FinTech

Main Article Content

Dr. T. Thirunavukkarasu, Vandita Hajra, Debasis Mohapatro, Ahmad Nur Budi Utama, SREERAM DAIDA, Dr. Shaikh Zeenath Hasan Ali
» doi: 10.48047/ecb/2023.12.si4.1667

Abstract

One of the most pressing issues confronting humanity today is environmental deterioration and natural resource scarcity. The adoption of Green Banking practices has been suggested as a solution to the world's increasing environmental issues. Going green has become an essential element of every sector, and sustainability reporting has become a duty of every company. While profit maximisation is the main goal, but many businesses establishment believes in environment-friendly operations. Technology has brought about enormous change, affecting every industry in both good and bad ways, with the banking sector is the most engaged in technical development. In terms of transaction processing and many other internal systems and procedures, information technology is one of the most significant facilitators of change in the Indian banking industry. Green banking is a new idea for environmental sustainability that promotes environmentally friendly methods for long-term development and lowers the financial industry's carbon impact. Green banking is seen as one of the instruments for achieving sustainable development in which economic activity has no negative environmental effect. Though it is widely assumed that the banking industry does not harm the environment, it does have an impact on the environment in the form of excessive paperwork, energy consumption such as lighting, air conditioning, and so on. Green banking is all about going above and beyond to ensure that the world's eco-environment is not significantly harmed. And this study is an effort to comprehend the idea of green banking as well as a review of previous research in this area and to assess future goal with futuristic roadmap.

Article Details