A STUDY ON GREEN FINANCING PROGRESS IN INDIA

Abstract

Environmental pollution is a severe challenge to human existence and comfortable living now a-days. Global climate change has become a great concern globally from the last few decades. Indian banks promoting green finance and supporting the country's sustainable development goals. Green financing involves funding eco-friendly projects, supporting renewable energy endeavours. social responsibilities and innovative green financial products and services to reduce carbon footprint and minimize waste. It represents an intelligent and forward-thinking mindset focused on envisioning sustainable futures. The purpose is to utilize the resources through recycling processes, paperless banking, technological devices, electronic (e) - banking services. Banks can play a proactive role to pursue environment friendly and ecologically congenial lending principle, which would force industries to go for investment to enhance environmental management, green factories, green technologies, use of pro- environment technologies and management systems. It serves both the commercial objective of the bank as well as its corporate social responsibility. Indian banks have launched various green finance initiatives to support environmentally friendly projects such as Green Banking, Sustainable Finance, Green Bonds and Renewable Energy. The study, being descriptive and analytical in nature, by using both primary and secondary data. Data analysis has been done qualitatively and quantitatively using statistical tools presented in table and charts