Abstract
Countries across the world are witnessing a heightened awareness in addressing the issues and challenges of sustainable development. There is no economic or social activity wherein the considerations of environmental viability may be seen as an option. The United Nations Sustainable Development Agenda 2030 has caught the collective imagination of leaders of the world pressing all stakeholders in the growth process to embrace the goals of Sustainable Development in all spheres of life. The historic Paris Agreement in 2015 gave further impetus to this phenomenon with sovereign countries pledging their nationally determined contributions to lower national emissions. In the achievement of these goals, the role of finance is extremely crucial. Particularly, countries have acceded to harmonize financial flows “with a pathway towards low greenhouse gas emissions and climate-resilient development” (UNFCC). India too is making efforts to align its financial sector with the tenets of sustainability. The banking sector is one of the most important segments of the financial sector. In India, the banking sector has been increasing in size and coverage due to continual efforts of the government. It is of utmost importance therefore, that banks incorporate green practices in their operations. With this premise, this paper sought to review the state green banking in India. The paper also attempted to examine the green banking practices in other countries and draw important lessons from international experiences.
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