Major Reseach Project on the need for Environment Protection, Green Investments and Green Banking

Major Reseach Project on the need for Environment Protection, Green Investments and Green Banking

Dr Alice Mani

Professor

Department of Commerce

CHRIST (Deemed to be University)

Bangalore – 560029

 

 

 

Abstract:

 

Climate change has emerged as the most serious environmental challenge and is raising questions about the infinite growth trajectory. This is attributed to the emission of Green House Gases (GHGs) and Chloro Fluro Carbons (CFCs) into the atmosphere which is released during coal-mining activities, oil exploration and fossil fuel combustion and when vegetation is burnt during land clearance. As the greenhouse gases build up in the atmosphere, the earth gets hotter. The result of global warming is climate change, which is a change in the weather condition over periods. Climate change impacts can undermine countries‘ efforts to achieve the goals of sustainable development, including in particular by worsening poverty in developing countries, especially the Least Developed Countries and Developing Countries.

 

India is growing at a very fast rate and this development can mainly be attributed to the service sector. However India faces a major challenge of controlling the impact of their business on the environment. For these industries, the banking sector is the major source of finance. Hence the role of the banks in controlling the environmental damage is extremely important. Banks are beginning to recognize that they have a social responsibility to fulfill as they emerge from the shadow of traditional banking. As per relatively indirect nature of their environmental and social impacts, banks need to examine the effects of their lending and investment decisions. Incorporating environmental and social criteria into business decision making can reduce the adverse impacts of operating activities .Financial institutions can do a lot to assist efforts for corporate social responsibility and achieve sustainable development.

 

Year of Publication: June 2014

ISBN:   978-93-82305-52-1

Major Research Project: Vol 7

Pages  ix, 97

Price: available on request

Funded by Centre for Research-Projects-CHRIST (Deemed to be University)

Published by Centre for Publications, CHRIST (Deemed to be University)