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The impact of green bank governance on sustainable economic development
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Arjeta Hallunovi 
, Skënder Uku
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
Green banking has emerged as a critical instrument for promoting sustainable economic development in Albania, yet adoption remains limited due to multiple challenges. This study examines public perceptions of green banking, focusing on awareness levels, perceived benefits, barriers to adoption, and demand for green products. A cross-sectional survey was conducted with 350 respondents from urban and rural areas using a structured questionnaire distributed online and in person. Data were analyzed using descriptive statistics and thematic analysis. Findings show moderate awareness (42 percent), strong belief in green banking’s role in economic growth, job creation, and environmental protection, but also highlight barriers such as high initial costs, limited knowledge, and regulatory hurdles. Despite these, optimism is high, and demand for tailored green products is notable. The study concludes that targeted policies, incentives, and education are essential for accelerating adoption, positioning green banking as a key driver of Albania’s sustainable transition.
Keywords: Albania, Economic Development, Green Banking, Green Products, Sustainability
Authors’ individual contribution: Conceptualization — A.H.; Methodology — A.H.; Investigation — A.H.; Resources — A.H.; Writing — Original Draft — A.H. and S.U.; Writing — Review & Editing — A.H. and S.U.; Supervision — S.U.; Funding Acquisition — A.H.
Declaration of conflicting interests: The Authors declare that there is no conflict of interest.
JEL Classification: F64, F65, Q01, Q56
Received: 27.01.2025
Revised: 05.06.2025; 28.08.2025; 27.10.2025
Accepted: 07.11.2025
Published online: 10.11.2025
How to cite this paper: Hallunovi, A., & Uku, S. (2025). The impact of green bank governance on sustainable economic development. Corporate Governance and Sustainability Review, 9(4), 33–44. https://doi.org/10.22495/cgsrv9i4p3
