GREEN BANKING APPROACH TOWARDS ENVIRONMENTAL SUSTAINABILITY

Management

Green banking combines operational enhancements, technological advancements, and shifting customer behaviour in the banking industry. In a market where competition is on the rise, it is a win-win situation for all parties involved. Adopting sustainable banking practises would not only improve the environment, but it will also increase operational effectiveness, reduce the risk of fraud and manual errors, and minimise costs associated with banking operations. Numerous services that businesses require to take advantage of these advantages are already provided by banks. This paper aims to understand the concept of Green Banking Products adopted by various Banks and also how these measures help in reducing the carbon footprint by the Banks. In addition, this study also highlights the advantages of Green Banking adoption and challenges faced by the Banks due to Green Banking adoption. Despite their active participation in India's developing economy, it is discovered that Indian banks have not taken much initiative in this area. In order to push enterprises to make mandated investments for environmental management, usage of relevant technologies, and management systems, banks should become green and take a proactive role in considering environmental and ecological concerns as part of their lending principles. They need to speak out more in support of the underlying green value proposition.

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