Sustainable Green Finance Practices and Application in Commercial Banks: A Phenomenological Study
| Autor: | Arjun Aryal, Ram Chandra Dhakal, Khageshyor Khanal |
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| Rok vydání: | 2022 |
| Předmět: | |
| Zdroj: | Global Journal of Management and Business Research. :31-36 |
| ISSN: | 2249-4588 0975-5853 |
| Popis: | As a new practice in finance, world communities are incorporating environmental, social and governance (ESG) interests into our financial practice terming it as Green Finance. ESG`s core concept and the United Nations Sustainable Development Goals 2030 help spread this west evolved concept to developing countries. Nepal, a developing country in need of foreign funding, seems to have succumbed to green finance practices as it has become one of the fundamental goals of key economic players such as the World Bank and the IMF. This qualitative research tried to explore the present positioning of Nepalese commercial banks regarding incorporation of the concepts of green finance in their financial planning, decision making and operation by collecting data through seven semi structured interviews with commercial bankers. Findings are analyzed under different themes i.e. understanding of green finance, common green finance practices and challenges faced while implementing it. This study concluded that green finance being a nascent concept is superficially understood, is practiced just to meet the minimum NRB guidelines, has economical and operational constraints, and needs rational amendments in guidelines for local acceptance yielding desired outcomes. |
| Databáze: | OpenAIRE |
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