Comparative analysis of green banking initiatives: A study on State Bank of India and Axis Bank from 2020 to 2022
DOI:
https://doi.org/10.37497/sdgs.v4igoals.21Keywords:
Green Banking, Sustainable Development, State Bank of India, Axis Bank, Environmental ImpactAbstract
Objective: This study aims to examine and compare the green banking initiatives undertaken by the State Bank of India (SBI) and Axis Bank from 2020 to 2022. It focuses on evaluating both the internal and external environmental impacts of these initiatives to highlight their contributions to sustainable development.
Methodology: The research utilizes secondary data collected from research articles, journals, annual reports, newspaper articles, and the official websites of the banks. The data pertains to the green banking practices of SBI and Axis Bank over the financial years 2020-21 and 2021-22. The study applies the concept of environmental management accounting to analyze the data.
Results: The findings indicate that both SBI and Axis Bank have significantly reduced their environmental impact through various green banking initiatives. SBI has increased its reliance on renewable energy, reducing its total energy consumption and greenhouse gas emissions. Similarly, Axis Bank has implemented several energy-saving measures, waste management practices, and water conservation techniques. Both banks have shown a consistent effort in promoting digital banking to minimize paper usage.
Conclusions: Green banking practices by SBI and Axis Bank have positively contributed to environmental sustainability. While both banks have made notable progress, there remains a need for continuous and consistent efforts to further enhance these practices. The study underscores the importance of green banking as a crucial element for achieving sustainable development in the banking sector.
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