The intrinsic role of the banks in decarbonizing the economy
Journal: Banks and bank systems [electronic resource] (Vol.12, No. 4)Publication Date: 2017-12-26
Authors : Kola O. Odeku;
Page : 44-55
Keywords : banks; climate change; green investments; renewable energy; sustainability;
Abstract
Global warming and climate change continue to disrupt the environment and all aspects of people's endeavors and as such, there is need to look at causes of climate change and deploy appropriate tools to address the problem of the scourge of climate change. The bank holds a pivotal position in the economy of any country. Apart from being the custodian of money, they also collaborate with the government and international financial institutions to perform various roles that shape the direction of the world's economy in terms of growth and development. Against the backdrop of this, this article looks at banks as part of the appropriate tools that should constantly be used to address and reduce the influence of fossil fuels that are fuelling global warming and climate change and switch to more sustainable green economy. In order to achieve this, there should be radical acceleration in advancing credit and loan facilities by banks to fund green projects and investments in order to decarbonize the economy, and at the same time maintain sustainable economic growth and development.
Other Latest Articles
- The equilibrium model of demand and supply at the Ukrainian Interbank Foreign Exchange Market: disclosure of problematic aspects
- HYDROINFORMATICS: SCIENCE AND EDUCATION
- ERP implementation in banks: success factors & impact on financial performance
- DETECTION AND MONITORING OF DUMPS USING REMOTE SENSING DATA AND GIS TECHNOLOGY
- CREATING CARTOGRAPHIC BASIS FOR DEVELOPING MASTER PLANS OF SETTLEMENTS ON MATERIALS OF AERIAL SURVEYS USING UNSPECIALIZED INEXPENSIVE UAV
Last modified: 2018-03-15 18:05:20