Green banking initiatives: a qualitative study on Indian banking sector

The environmental concern is on rise in all types of business; however, banking assumes a special niche due to its ability to influence the economic growth and development of the country. The present study proposes conceptual model of Green banking initiatives and studies the impact of three Green b...

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Bibliographic Details
Published in:	Environment, development and sustainability development and sustainability, 2022-01, Vol.24 (1), p.293-319
Main Authors:	Sharma, Meenakshi, Choubey, Akanksha
Format:	Article
Language:	eng
Subjects:	Activities of daily living Bank marketing Banking Banking industry Banking system Brand image Brands Carbon footprint Conceptual models Earth and Environmental Science Ecology Economic development Economic Geology Economic Growth Environment Environmental accounting Environmental Economics Environmental Management Environmental perception Finance Green economy Green products Image enhancement Image restoration Industrial development Initiatives Product development Qualitative research Respondents Social development Social responsibility Sustainable Development
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Summary:	The environmental concern is on rise in all types of business; however, banking assumes a special niche due to its ability to influence the economic growth and development of the country. The present study proposes conceptual model of Green banking initiatives and studies the impact of three Green banking initiatives, viz. green products development, green corporate social responsibility and green internal process on two possible outcomes, viz. Green brand image and Green trust. The study is qualitative in nature comprising of semistructured in-depth interviews conducted with 36 middle- to senior-level managers of twelve public and private Indian banks. Banking sector can play a crucial role in greening the banking system by enhancing the availability of finance and serve the needs of a “green economy”. The findings of the study revealed that 63% of the total respondents were of view that their bank indulges in development of several green banking products and services, 53% of the bankers said that their bank incorporates green internal processes in their daily activities, and 78% respondents said that their bank undertakes several green corporate social responsibility initiatives. This investigation further highlights that more than 60% respondents believed that Green banking initiatives have positive role in restoring customer trust through enhanced Green brand image. With dearth of studies on green banking in India, the present qualitative study contributes to the body of knowledge and paves way for future research in green banking for sustainable development.
ISSN:	1387-585X 1573-2975