Sustainable banking: A roadmap to sustainable development

Deepika Saxena; Neelam Dhall; Rashika Malik

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Sustainable banking: A roadmap to sustainable development

Deepika Saxena, Neelam Dhall, Rashika Malik

https://doi.org/10.22495/cgsrv5i3p4

Abstract

Sustainability is not a mere buzzword in the banking industry now but rather a key concept that will shape the direction of the industry in the years to come (World Finance, 2019). Thus, the study aims to ascertain various sustainable banking practices at a domestic and global levels. It also intends to identify the existing framework developed for assessing the performance of sustainable banking practices. The study makes use of exploratory and descriptive research design and is based on primary (in-depth interviews) and secondary sources of data collection. The dimensions of sustainable banking have been identified as environmental, social and governance (ESG). The research further highlights that sustainability issues focused by banks primarily involve “environmental” and “social” considerations, however, the “governance” aspect has not yet been considered by many. Moreover, the study reveals that there are no guidelines specified by the Reserve Bank of India (RBI) for sustainable banking practices in India to date. The insights gained from the study would enrich the existing literature on sustainable banking. The findings would also help in developing a new framework for assessing the performance of sustainable banking practices.

Keywords: Sustainable Banking, Sustainable Development, Sustainable Banking Practices, Environmental, Social and Governance (ESG)

Authors’ individual contribution: Conceptualization — D.S., N.D., and R.M.; Methodology — D.S., N.D., and R.M.; Validation — D.S. and N.D.; Formal Analysis — D.S., N.D., and R.M.; Investigation — R.M.; Resources — D.S. and N.D.; Data Curation — D.S., N.D., and R.M.; Writing — Original Draft — R.M.; Visualization — D.S., N.D., and R.M.; Supervision — D.S. and N.D.; Project Administration — D.S., N.D., and R.M.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: G3, Q5, Q56

Received: 15.08.2020
Accepted: 10.09.2021
Published online: 15.09.2021

How to cite this paper: Saxena, D., Dhall, N., & Malik, R. (2021). Sustainable banking: A roadmap to sustainable development. Corporate Governance and Sustainability Review, 5(3), 42–56. https://doi.org/10.22495/cgsrv5i3p4

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