Abstract
This paper aims to explore the emergence of ‘Green Banking’ in Bangladesh, with a focus on the role of financial regulation and regulators in greening the financial sector. It also examines the contribution and involvement of banks and non-bank financial institutions in promoting green economic transition. The study is based on the review of secondary data collected from various sources, such as quarterly reports, annual reports, websites of the central bank of Bangladesh, and other commercial banks and non-bank financial institutions as well as various articles, and newspapers reports on green banking in Bangladesh. The collected data is reviewed using descriptive statistics. The research results reveal that the central bank of Bangladesh played a major role in greening the financial system of the country by implementing various green policies and regulatory measures. Although Bangladesh is still far behind the developed countries in terms of environmental performance, the country has made a remarkable progress in initiating and expanding green banking practices, infrastructure development, and accelerating green growth in recent years.
Highlights
Green banking (GB) is an emergent concept that occupies a significant position in the intersectional field of environmental policy, financial services, and socio-economic development
The study confirms that the Bangladeshi financial sector is pioneering green banking activities since 2011
It reveals that the central bank of Bangladesh has clearly played a major role in helping to green the Bangladeshi banking system
Summary
Green banking (GB) is an emergent concept that occupies a significant position in the intersectional field of environmental policy, financial services, and socio-economic development. It starts with the aim of protecting the environment where banks consider, before financing a project, whether it is environmentally friendly and has any implications for the future [1]. As a result, paying greater attention to the environmental issues across the globe has exerted pressure on all industries to become greener, including the financial services and more banks [3,4,5]. The global banking industry has shifted towards an environmentally focused strategy through the adoption of green banking [6]
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