GREEN BANKING AS THE PROSPECTIVE DIMENSION OF BANKING IN INDIA

Abstract

This study examines the function of environmental, or green, banking in fostering holistic and sustainable development. The notion of environmental banking is crucial due to the considerable limits of assessing a nation's prosperity exclusively through gross domestic product (GDP). The main aim of this research is to determine how green banking can facilitate and guarantee sustainable growth. This descriptive study utilises current literature and survey-based questionnaires to examine the correlation between environmental banking and sustainable development. The findings indicate that several organisations often overlook significant environmental initiatives, underscoring the necessity for effective green finance processes. The study indicates that banking staff has significant influence in formulating economic policies concerning rights and liabilities within emissions trading schemes and financial carbon banking. The overall findings underscore the essential significance of implementing effective environmental banking practices to attain sustainable development. Emphasis is placed on environmental taxation, the pricing and appreciation of ecosystem services, the assessment of greenhouse gas emissions, and the expenses associated with pollution. These factors are essential for promoting a comprehensive approach to sustainable development.