Green Practices of Indian and UK Banks: A Comparative Study

Abstract

The concern for ecological balancing by the banking industry has given birth to a new notion of Green Banking or Sustainable banking. This paper seeks to establish Green Banking as an important tool with respect to the promotion of environmental conservation as well as the encouragement of sustainable development. It also means that the ‘green’ applies to behaviours that benefit the environment as well as provided for the society. To a significant extent, banking becomes environmentally sustainable, developing and supporting such environmentally friendly and biodegradable features when conducting its operations while aiming to reduce carbon dioxide emissions. Green Banking given importance on technology in executing conventional banking services on an efficiency model that encourages environmentally conscious clients. As a typical bank it has environmentally sensitive measures that it takes and works to minimize emission of greenhouse gases thus fitting the environmental and economic sustainability standards. This two-pronged approach ensures that standard banking operations are carried out with regard to environmental and social issues. The objective of this study is therefore to identify the factors that compel the identified banks in India to go green in their operations and establish the impact of green banking on ecological responsibility with reference to the green practices adopted by the banks in the United Kingdom. This research paper analyses the research findings obtained from the data collected through different sources. For this research study, the survey technique is chosen. Primary information is collected through a questionnaire and secondary information is through documentation review. Statistical formulization is employed in the research for various adopting factors of sustainable banking and its effects on ecological sustainability. Presently, the notion of sustainable banking is developing, and the banks are cordially searching for ideas to represent themselves as sustainable banks.