Empowering Sustainable Development Goals in the Banking Industry: A Comprehensive Analysis of Ethical Banking Practices and Economic Viability

G. Kiruthika (), M. Gowrishankar and P. K. Jawahar Kumar
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G. Kiruthika: Assistant Professor, Excel Engineering College
M. Gowrishankar: Assistant Professor, Excel Engineering College
P. K. Jawahar Kumar: Assistant Professor, Excel Engineering College

A chapter in Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-ups and Sustainability (ICRBSS 2023), 2024, pp 426-436 from Springer

Abstract: Abstract In an era characterized by escalating environmental concerns and social inequities, the role of the banking industry in fostering sustainable development has gained pivotal significance. This research paper delves into the confluence of ethical banking practices and economic viability as potent drivers of the United Nations’ Sustainable Development Goals (SDGs). Through an exhaustive analysis of the global banking landscape, this study offers a nuanced exploration of the multifaceted interplay between ethical banking frameworks, socio-environmental responsibility, and financial performance. By employing a meticulous blend of empirical data, case studies, and theoretical frameworks, the research unravels the intricate mechanisms by which ethical banking can serve as a catalyst for sustainable economic growth while concurrently addressing pressing global challenges. The paper presents a holistic examination of the nuanced ethical dilemmas faced by contemporary financial institutions, delving into the intricacies of integrating responsible banking strategies within the fabric of traditional financial operations. Furthermore, it elucidates the significance of fostering an ecosystem of transparent governance, stakeholder engagement, and inclusive financial services to engender a more equitable and sustainable global economic paradigm. Through this comprehensive analysis, the paper aims to provide a robust roadmap for the international banking community, policymakers, and stakeholders, delineating a strategic blueprint for the alignment of banking practices with the sustainable development agenda, thus fostering a more resilient and inclusive global financial ecosystem.

Keywords: Financial Institutions; Sustainability; global financial ecosystem; Integrated Sustainability Framework (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-374-0_37

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