Green banking: A strategic response to environmental turbulence

Abstract

Enterprises have become increasingly interested in forming and implementing strategies to feel the effects of environmental issues that impact their competitive landscape in ways not envisaged earlier. Every sector of the society is adopting a green approach in lieu of achieving economic, social, and environmental performance along with the attainment of sustainable development. Green banking is a dynamical method of enhancing environmental quality and conserving energy. It provides the market-based solution for combating a wide range of environmental problems ranging from climate change, deforestation, and water conservation to preservation of biodiversity. Banks being the major financer are implementing practices and guidelines to reduce the global carbon emission. This paper discusses the green banking practices adopted by various Indian banks in response to environmental turbulence.