Integrating the Notion of Sustainable Development in Banking: Analysing Historical and Conceptual Framework
Unknown authors
Abstract
In the past three decades, ustainable development has emerged as a new paradigm for development. Contemporary s development discourse puts the onus on every governmental and non-governmental organisation to contribute towards sustainable development. Banks play a critical role in the achievement of sustainable development goals due to its intermediary role in the economy. Recently, various international guidelines and roadmap were developed to promote the notion of sustainable development such as Equator principles, PRI, UNEP FI, and Global reporting initiatives (GRI). The purpose of this paper was to discuss the evolution of the notion of sustainable development vis-à-vis the role of banking institutions in sustainable development and also examined contemporary national and international initiatives that propagate the role of banks towards sustainable development and finally suggested a framework to achieve sustainable development through sustainable banking practices.