Integrating the Notion of Sustainable Development in Banking: Analysing Historical and Conceptual Framework
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Author: Kishore Kumar , Ajai Prakash , and Waseem Khan
Author Address: 1 2 Assistant Professors, Institute of Business Management, GLA University, Mathura, and Department of Business Administration, University of Lucknow, Lucknow *Corresponding author's email: kishore.kumar@gla.ac.in
Keywords: Banking, CSR, environment protection, green banking, social development, sustainable banking, sustainable development
JEL Codes: G21, M14, P28, P32, Q01, Q56, Q58.
Abstract
In the past three decades, ustainable development has emerged as a new paradigm for development. Contemporary s development discourse puts the onus on every governmental and non-governmental organisation to contribute towards sustainable development. Banks play a critical role in the achievement of sustainable development goals due to its intermediary role in the economy. Recently, various international guidelines and roadmap were developed to promote the notion of sustainable development such as Equator principles, PRI, UNEP FI, and Global reporting initiatives (GRI). The purpose of this paper was to discuss the evolution of the notion of sustainable development vis-à-vis the role of banking institutions in sustainable development and also examined contemporary national and international initiatives that propagate the role of banks towards sustainable development and finally suggested a framework to achieve sustainable development through sustainable banking practices.
Description
Indian Journal of Economics and Development
Volume 16 No. 3, 2020, 449-458
DOI: https://doi.org/10.35716/IJED/20065
Indexed in Clarivate Analytics (ESCI) of WoS
Scopus: Title Accepted
NAAS Score: 4.82