Incentives and Barriers for Green Banking Adoption: Paving the Path towards Sustainable Financial Practices

Abstract

Now a days every person in the society have awareness about the environment sustainability and every third persons wants to contribute in the society by using environment friendly products because we all know that if we use harmful products in today’s scenario it will automatically affect our future. For this government of most of the countries develop environment protection initiatives in which green banking is the one. Because now customer is more alert about the environmental activities and as per government norms, business should obey the rules of environment suitability to retain their businesses into the market. So they have to follow the 3P’s rule i.e. Profit, People and Planet Generally, the green word is more popular in current scenario like Green Banking, Green Projects, and Green Products and so on because everyone has the knowledge about the environment sustainability. The study just focused on Green banking in this research report, green banking concept was originated in 2003 by US to safeguard their economy. The Green Bank Act establish the first Green Bank in US country and the main purpose of this bank is to use the minimum paper for banking activities as well as reduce those activities which deepened on tree based raw material.