Green Financing in The Way of Sustainable Development

Abstract

Purpose: The book chapter seeks to investigate the numerous green finance measures already taken by various banks in the direction of Bangladesh’s sustainable development. The chapter also demonstrates the extent to which banks in the nation will use green finance between 2019 and 2022.

Need for the study: This study indicated that practically all banks participated in green finance initiatives to promote sustainable economic growth. Private commercial banks (PCBs) and foreign commercial banks (FCBs) have taken more measures than the other banks, although their efforts still fall short. Therefore, it will be better for the environment and sustainable growth if the financial industry adopts more green finance projects.

Methodology: The study mostly relied on secondary data and information gathered from Bangladesh Bank annual reports, numerous studies on green financing, and the websites of several institutions. Microsoft Excel has been used to examine the data. Data have been presented using tables, graphs, and charts.

Findings: Green financing is now the demand of the time because the whole world, especially Bangladesh, is facing adverse impacts from global warming and climate change. So environmental issues have become the main concern of the government, Bangladesh Bank, stakeholders, and society, and they wish to know about the initiatives towards green financing taken by the various banks to reduce the impact of global warming.

Implications: Policymakers, governments, private and public organisations, banking industries, and their stakeholders will benefit from the book chapter.

Citation

Islam, M.S., Hossain, M.M. and Pathak, N. (2024), "Green Financing in The Way of Sustainable Development", Taneja, S., Kumar, P., Reepu, Balusamy, B., Sood, K. and Grima, S. (Ed.) Sustainability Development through Green Economics (Contemporary Studies in Economic and Financial Analysis, Vol. 114), Emerald Publishing Limited, Leeds, pp. 231-241. https://doi.org/10.1108/S1569-375920240000114014