Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-ups and Sustainability (ICRBSS 2023)

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Embracing Sustainability: The Evolution of Conventional Banking through Green Banking Initiatives

Authors
T. C. Catherin1, *, C. L. Jeba Melvin2
1Department of Business Administration, SRM Institute of Science and Technology, Ramapuram, Chennai, Tamil Nadu, India
2Department of Management Studies, N.M. Christian College, Marthandam, Affiliated to Manonmaniam Sundaranar University, Abishekapatti, Tirunelveli, 627012, Tamil Nadu, India
*Corresponding author. Email: catherit@srmist.edu.in
Corresponding Author
T. C. Catherin
Available Online 20 February 2024.
DOI
10.2991/978-94-6463-374-0_35How to use a DOI?
Keywords
Green Banking; Global Warming; Climate Change; Go Green; Corporate Social Responsibility; Banking Sector; Environmental Concern; Sustainability
Abstract

In India, the banking sector wields substantial influence over various industries and plays a pivotal role in the country's economic and monetary progress. Recently, there has been a growing emphasis on environmental consciousness and ethical social responsibility within banking practices, leading to the emergence of the Green Banking concept in contemporary finance. This shift towards sustainability in banking has been instrumental in fostering the nation's green initiatives. The successful implementation of Green Banking practices hinges on raising public awareness about these initiatives. Therefore, this study aims to meticulously explore the Green Banking initiatives embraced by various banks. Additionally, this research assesses the extent to which these initiatives have been integrated into the banking sector. The findings of the study underscore the importance of giving equal attention to all aspects of Green Banking, including eco-friendly practices and their consistent enforcement, the incorporation of green processes within internal banking operations, efficient waste management strategies, energy conservation measures, as well as green funding and carbon offset initiatives. It is imperative for banks to prioritize these diverse Green Banking initiatives to facilitate sustainable development and contribute significantly to environmental preservation.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-ups and Sustainability (ICRBSS 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
20 February 2024
ISBN
978-94-6463-374-0
ISSN
2352-5428
DOI
10.2991/978-94-6463-374-0_35How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - T. C. Catherin
AU  - C. L. Jeba Melvin
PY  - 2024
DA  - 2024/02/20
TI  - Embracing Sustainability: The Evolution of Conventional Banking through Green Banking Initiatives
BT  - Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-ups and Sustainability (ICRBSS 2023)
PB  - Atlantis Press
SP  - 398
EP  - 409
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-374-0_35
DO  - 10.2991/978-94-6463-374-0_35
ID  - Catherin2024
ER  -