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Green Banking for Environmental Sustainability-Present Status and Future Agenda: Experience from Bangladesh

Chen Zhixia, Md. Miraj Hossen, Sayed Sami Muzafary and Mareum Begum
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Chen Zhixia: Professor, College of Public Administration, Huazhong University of Science and Technology, 1037 Luoyu Road, Wuhan 430074, Hubei, P. R. China
Md. Miraj Hossen: Research Scholar (PhD Program, Major: Administrative Management), College of Public Administration Huazhong University of Science and Technology, 1037 Luoyu Road, Wuhan 430074, Hubei, P. R. China
Sayed Sami Muzafary: Research Scholar (PhD Program), Major: Administrative Management, College of Public Administration, Huazhong University of Science and Technology, 1037 Luoyu Road, Wuhan 430074, Hubei, P. R. China
Mareum Begum: Research Scholar (Master Program), College of Public Administration, Huazhong University of Science and Technology, 1037 Luoyu Road, Wuhan 430074, Hubei, P. R. China

Asian Economic and Financial Review, 2018, vol. 8, issue 5, 571-585

Abstract: The concept of green banking is becoming a buzzword in the financial and banking sector and in the common people of the world over the last few decades. This paper tries to highlight the present status of green banking practice, progress, and different green initiatives taken by the Bangladeshi banks to keep the environmental sustainability. Through content analysis of the annual reports of Bangladesh Bank (the Central Bank of Bangladesh), quarterly review report of green banking activities and annual review report of CSR activities, the study discovers that Bangladeshi banks are doing well in practicing sustainable baking with maintaining the specific guidelines of Bangladesh Bank. Though the green banking initiatives were introduced by Bangladesh bank in 2011 but within a short period, it?s achievement is mentionable. As the guardian of the banking companies, Bangladesh Bank provides a standardized guideline, and all the banks practice green banking activities according to its instruction along with their own policies. Mostly the banks insert their good news about green activities, investments, and achievements in their annual reports and also report to the Bangladesh Bank. This type of green practices aids the banking institutions to attract the regulator, customers, public and also get the greater legitimacy. As a developing country with lower technological advancement and minimum social and environmental awareness of the general people, Bangladeshi banking companies face many challenges to be green and environment-friendly. Finally, the study concludes with mentioning some suggestions to make the practices of green banking effective through gathering experiences from different research in advanced countries.

Keywords: Bank; Green banking; Central bank; Bangladesh; Social awareness; Technological Advancement; Environmental sustainability. (search for similar items in EconPapers)
JEL-codes: G21 E58 (search for similar items in EconPapers)
Date: 2018
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