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Green banking: the case of commercial banking sector in Oman

Mohammad Dulal Miah (), Syed Mahbubur Rahman () and Mahreen Mamoon ()
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Mohammad Dulal Miah: University of Nizwa
Syed Mahbubur Rahman: American International University-Bangladesh (AIUB)
Mahreen Mamoon: BRAC University

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2021, vol. 23, issue 2, No 71, 2697 pages

Abstract: Abstract This paper aims at examining the current environmental status of commercial banks in Oman. In particular, the research attempts to identify initiatives that Omani banks undertake to reduce their carbon footprints and the drivers that influence these banks to act environmentally. To achieve these objectives, we have interviewed 22 randomly selected individuals with varied positions from managing director to branch manager using a semi-structured questionnaire. The interview reveals some important findings: (1) Banks' environmental initiatives that reflect on their day-to-day activities are confined merely to recycling and reduced consumption of paper and energy, (2) although most banks think that eco-projects can be effectively implemented through the banking system, this opportunity remains largely untapped so far (3) most banks recognize the need for separate guidelines issued by the central banks for environmental initiatives and disclosure. The result of this research will help policymakers formulate appropriate environment regulatory policies required for mitigating carbon footprint in Oman.

Keywords: Green banking; Carbon footprint; Financial sector; Oman (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/s10668-020-00695-0

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