I was crying and felt overwhelmed most of the time. They came through for me by getting interest rates reduced and working with creditors.
Consideration of the environmental issues at this stage is an avoidable cost.
Preventative Banking Due to various driving forces like government pressure, non-government organizations, Green consumer management from society etc, banks integrate the environmental issues and risk management activities in to their daily business activities Bouma et al, Offensive Banking In this stage, the banks not only consider their internal activities but also consider their external activities.
The banks in this stage develop and market environmental-friendly projects. For example Green financing i. The focus is on financing various projects which work on renewable energy, investment funds that invest on environment friendly assets and release of various reports based on the environmental performance.
Sustainable Banking At this stage all the activities of banks are sustainable. Banks do not invest in the ecologically unsound business despite huge profit.
The banks do not aim towards highest financial rate of return. The key motive is to get the highest sustainable rate of return. Currently, sustainable banking is possible only for the niche players of the field.
Environmental Impacts of the Banks Although banks do not appear to have any direct impacts on the environment, it is not so. Banks play a very crucial role in the society and as a financer to major developmental projects their role in the society and impacts on the environment cannot be neglected.
Following Green consumer management the major types of the environmental impacts of the banks. Internal Impacts Banking sector is considered as a clean sector which is technologically strong with minimum negative impact on the environment and the society.
Direct impacts of the banks are related to the internal operations of the banks that may increase greenhouse emissions, like energy consumption from lights, use of computers and ATM machines, water, waste disposal, business travels etc.
But the situation is that opposite compared to other sectors in the economy.
The Environmental Risks for Banks Banks are exposed to many risks that may lead the banks face loss in terms of reputation and profit.
Banks may not get their money back which they have used to finance their clients and so can face credit risk and reputational risks. This extra burden of payment many times leads bank clients become financially weak and this makes them defaulter of repaying the loan to the bank.
Risk of Reduced Value of Collateral If the property which the bank has accepted as collateral, gets polluted, then its value detoriates due to the cost which is paid as cleanup cost.
This risk increases the risk of the repayment of the expected amount. Risk of Changing Market with Environmental Concerns Due to increase in the environmental concern among the customers and release of strict environmental regulations, the survival of the organization without environmental concern is becoming very tough in the present times.
Thus, the change in the attitudes towards the environment can make the debtors tough to survive by affecting the banks capability to repay the loan amount to the bank. Risk of Reputation Damaged If the banks do not perform their environmental and social responsibilities then this lowers the credibility of the bank among the public and thus causing loss of reputation of the bank.
It finances various private sector investments and provides advisory services to various business and government. It promotes the sustainable growth of the economy.
It finances various private sector investment and provides advisory services to various business and government. It promotes sustainable growth of the economy through various activities like generation of tax revenues, job creation, improving corporate governance and environmental performance.
It promotes environment protection and facilitates the wise use of the natural environment for the promotion of the sustainable development across the globe. Over institutions, including banks, insurers and fund managers, work with UNEP to understand the impacts of environmental and social considerations on financial performance UNEP FI, Bank Track The prime focus is towards the working of the private banks and the project they are involved in context to the environment, society and human rights.
Bank Track releases research reports focused on sustainability in the banking sector. The main purpose is to promote changes in the operations of the bank so that the banks consider the ecological well being of the society and be accountable for the activities of their shareholders Bank Track: Laws and Guidelines for Environmental Conservation and Sustainability Equator Principles These are the framework for the risk management.
About the Equator Principles.Green marketing products that are presumed to be environmentally safe. It incorporates a broad range of activities, including product modification, changes to the production process, The consumer electronics sector provides room for using green marketing to attract new customers.
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