A systematic review of green finance in the banking industry: perspectives from a developing country

Shahinur Rahman; Iqbal Hossain Moral; Mehedi Hassan; Gazi Shakhawat Hossain; Rumana Perveen; Shahinur Rahman; Iqbal Hossain Moral; Mehedi Hassan; Gazi Shakhawat Hossain; Rumana Perveen

doi:10.3934/GF.2022017

Green Finance

2022, Volume 4, Issue 3: 347-363. doi: 10.3934/GF.2022017

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Review

A systematic review of green finance in the banking industry: perspectives from a developing country

1.
Department of Business Administration, Northern University of Business and Technology Khulna (NUBTK), Shib Bari Circle, Sonadanga, Khulna, Bangladesh
2.
Department of Business Administration, School of Management (SoM), Huazhong University of Science and Technology (HUST), Wuhan, Hubei, China
3.
Department of Marketing, University of Barishal, Barishal, Bangladesh
4.
Department of Business Administration, University of Global Village (UGV), Bangladesh

Received: 16 July 2022 Revised: 25 August 2022 Accepted: 31 August 2022 Published: 19 September 2022
JEL Codes: B26, F30, F37, G17, G19

Globally, scholars and practitioners are becoming increasingly interested in determining the interaction between finance and environmental sustainability. However, a few studies have investigated and organized existing information in the context of the green finance of banks in developing countries. The purpose of our study is to find major dimensions of green finance and research gaps from a thorough evaluation of the literature. As a result, existing research on green finance in the banking industry has been evaluated in this paper with a focus on green finance and sustainable development. This study employs the content analysis method and it analyzes and summarizes a total of 53 relevant previous studies in the field of green finance. The findings of this research reveal 21 crucial dimensions of green finance in Bangladesh. The primary green finance products of Bangladeshi banks include green securities, green investments, climate finance, green insurance, green credit, green bonds and green infrastructure. The other factors include environmental performance and green economic growth, energy efficiency, green finance policy and environmental protection and the risk impact of bank policy formulation. The findings of this study will help policymakers to understand the green finance concept and its associated variables, which need to be considered when adopting and implementing green finance.
- green finance,
- sustainable development,
- environmental protection,
- developing country
Citation: Shahinur Rahman, Iqbal Hossain Moral, Mehedi Hassan, Gazi Shakhawat Hossain, Rumana Perveen. 2022: A systematic review of green finance in the banking industry: perspectives from a developing country, Green Finance, 4(3): 347-363. doi: 10.3934/GF.2022017

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Abstract

Globally, scholars and practitioners are becoming increasingly interested in determining the interaction between finance and environmental sustainability. However, a few studies have investigated and organized existing information in the context of the green finance of banks in developing countries. The purpose of our study is to find major dimensions of green finance and research gaps from a thorough evaluation of the literature. As a result, existing research on green finance in the banking industry has been evaluated in this paper with a focus on green finance and sustainable development. This study employs the content analysis method and it analyzes and summarizes a total of 53 relevant previous studies in the field of green finance. The findings of this research reveal 21 crucial dimensions of green finance in Bangladesh. The primary green finance products of Bangladeshi banks include green securities, green investments, climate finance, green insurance, green credit, green bonds and green infrastructure. The other factors include environmental performance and green economic growth, energy efficiency, green finance policy and environmental protection and the risk impact of bank policy formulation. The findings of this study will help policymakers to understand the green finance concept and its associated variables, which need to be considered when adopting and implementing green finance.

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