International Conference on Green Banking for Green Industry and Green Economy
Abstr. due: 05.10.2015
Dates: 12.02.16 — 13.02.16
Area Of Sciences: Economics and management;
Organizing comittee e-mail: firstname.lastname@example.org
Organizers: Indian INstitute of Sustainable Development
Industrialization has altered the composition of the global atmosphere. There has been huge impact on ecological and socio-economic systems. Due to rapid industrialization the entire world is experiencing the heat of global warming, environmental degradation and depletion of scarce resources. A proactive and timely intervention and action is necessary by government, regulatory agencies, corporate bodies, NGOs and individuals to combat global warming & environmental degradation. Banking sector is considered as backbone of any economy. Banking sector is the main source of financing for corporate world which is responsible for global warming and environmental degradation.
There is a symbiotic link between finance, environment, social and governance (FESG) and the Financial Institutions and Banks could play a vital role in developing a sustainable world. Environmental degradation may further affect the quality of assets as well as return of banks. Countries around the globe have initiated several positive actions to address these grave challenges. Banks in and around the world are also surging ahead towards promoting green economy and green industry.
In this backdrop Green Banking has emerged and recognized as an important strategy to address sustainable concerns. The green initiatives will synergize collective responsibility and support approach to anticipate and prevent potential negative impact on the environment and society. Green banking has two dimensions. First, the way the banking business is being done and the second dimension relates to where the banks invest its money.
As far as Green Banking in India is concerned, the banks are way behind the schedule compared to the global trends. None of the Public Sector Banks or the Private Sector Banks has adopted “EQUATOR PRINCIPLES” of risk management framework for determining, assessing and managing environmentally and socially risk projects. Only few of the Indian Banks are signatories to UNEP-FI (United Nations Environment Programme - Finance Initiative). This declaration is endorsed by over 200 civil society organizations including banks which give a clarion call to all the financial institutions and banks to embrace six commitments and take immediate steps to implement the same in fostering the sustainability. Further, very few banks are also signatories to Carbon Disclosure Project (CDP)-India, an initiative to prevent dangerous climate change and protect our natural resources. Six Indian Banks have voluntarily agreed to incorporate “Principles of Collevecchio Declaration”. According to the British Business Newspaper and Financial Times, none of the Indian Banks have incorporated environmental objectives into their operations except Yes bank. It seems there is no systematic attempt to integrate the environmental concerns into the business operations by Indian Banks. Further, there are no specific RBI guidelines for banks on Green Banking. However, RBI has issued circular advising banks to integrate social and environmental concerns in their business operations. The RBI has also advised the banks to put in place an appropriate plan of action for sustainable development, albeit all this is voluntary on the part of the banks. Green banking has potential to transform the Indian economy.
In this context there is a dire need to create awareness among all the stakeholders about environmental responsibility and thereby help to restore the natural environment. As a responsive organization, the Post-Graduate Department of Business Administration.
Rani Channamma University, Belagavi in association with its affiliated B-Schools has owned the responsibility of organizing an International Conference on “Green Banking for Green Industry and Green Economy”. The conference shall encourage, familiarized the concept of environmental friendly investments thereby the industries integrate social and environmental concerns in their business operations. The conference shall herald a new era in sensitizing and strategizing project financing considering environment viability along with commercial viability. The deliberation and discussion will enable to develop policy guidelines and action plan in achieving sustainable development.
The objectives of the conference are:
· To create awareness among all the stakeholders about Green Banking Practices
· To provide a platform for meaningful debate on Green Banking to Academicians, Researchers, Bankers, Policy-Makers & Other Stakeholders.
· To explore new vistas of Green Banking.
· To facilitate the Banking Sector to incorporate Green Banking Practices.
· To examine the problems and potentialities of introducing Green Banking in India & suggesting the future road map.
· To assist Government and Regulatory Authorities to frame Long Term Policy for Green Banking.
Conference Web-Site: http://incgb.rcumba.com/
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