Green Banking means eco-friendly or environment-friendly banking to stop environmental degradation to make this planet more habitable. This comes in many forms. Providing innovative green products: using online banking instead of branch banking, paying bills online instead of mailing them, purchasing green mortgage, opening up of CDs, green credit cards and money market accounts at online banks instead of large multi-branch banks or finding the local bank in your area that is taking the biggest steps to support local green initiatives. Green Banking is also a multi-stakeholders' endeavor where banks have to work closely with government, NGOs, International Financial Institutes (IFIs)/International Government Organizations (IGOs), Central Bank, consumers and business
communities
to reach the goal.
A
Green Banking is an ethical banking/ social banking (“banks with a conscience”-Benedikter,
2011) as there is a strong building block which is corporate social
responsibility (CSR) within the agenda of green banking. CSR
bind
banks in a relation with society/people showing the caring face of it in different
situation, especially, in crisis period.
Furthermore, Green Banking is regarded as sustainable banking, which has a role
to safeguard the planet from environmental degradation, with the aim of
ensuring economic growth which is sustainable.