Green Banking Essay

4779 words - 20 pages

Submission of Report Proposal (Draft)

Submitted to:

ATM Jahiruddin

Professor, Business Administration Discipline

Submitted by:

Prodyut Golder
ID: 090303

4th Year 2nd Term
Business Administration Discipline
Khulna University

4th November, 2013

Name of the proposed report:

“Green Banking Initiative of Bangladesh bank and Compliance of the Commercial banks”

(A Case study based on Khulna City)

Introduction:

Bangladesh is a country of enormous opportunities. After its liberation war, it has rapidly changed its economic status and in spite of so many obstacles, recently it has introduced itself as a middle income country. But now, along with other ...view middle of the document...

e. green industry and green economy in general (Islam and Das, 2013). Green banking or ethically responsible banks do not only advance their own initiatives but also affect socially responsible behavior of other business. The government and Bangladesh Bank have remained fully aware and proactive in this respect. In 2011, Bangladesh bank has launched a comprehensive green banking initiative by providing the commercial banks and other financial institutions policy guidelines to follow. It has also issued a common reporting format to all commercial banks to report green banking activities including the extent of carbon footprint in a structured way. Now Banks and financial institutions are to submit a quarterly report to Bangladesh Bank regularly on their performance of green banking activities.

“Green banking policy needs to be covered through a timeframe which will be segregated into three phases,” the Bangladesh Bank (BB) said in its guidelines, issued in February, 2011. The guidelines would be implemented during the period December 31, 2013 in three phases. Under the guidelines, the banks would formulate and adopt broad environmental or green banking policy and strategy approved by their boards of directors. (Bangladesh bank, 2011) A high powered committee comprising directors from the board in case of scheduled Bangladeshi banks and a high powered committee comprising regional chiefs of global offices and members from the top management including CEOs in case of foreign banks should be responsible for reviewing the banks’ environmental policies, strategies and programs. The banks will approve a considerable fund in their annual budget allocation for green banking.  The guidelines also said the banks should take steps to save energy from corporate business travel and encourage employees to purchase energy- efficient cars (that consume less fuel) that can reduce gas and petroleum consumption. The guidelines also added, “Eco-friendly business activities and energy efficient industries will be given preference in financing by banks. Environmental infrastructure such as renewable energy projects, clean water supply projects, wastewater treatment plants, solid and hazardous waste disposal plants, bio-gas plants, bio-fertilizer plants should be encouraged and financed by banks,’’. The central bank will declare the names of the top ten banks for their overall performance in green banking activities on its website, the guidelines said it would actively consider green banking activities/practices of a bank while giving permission for opening new bank branches. (Bangladesh bank, 2011)

Definition of Green Banking:

‘Green’ in some studies, the term “green” refers to define a broad range of social, ethical and environmental dimensions. However, for the purpose of the study that tends to look into environmental aspect, “green” in the discussion is primarily to describe banks’ impacts on the environment, environmental responsibility as well as...

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