The Emergence of Green Banking

A Sustainable Financing Strategy for Protecting Against Deforestation in Asean

Bibliographic Data

ID21641531
AuthorsSapto Hermawan (0000-0003-1527-594X, Sebelas Maret University, corresponding author), Zenia Aziz Khoirunisa (Sebelas Maret University)
Year2024
Volume33
Issue1
Pages96-124
Publication date2024-03-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Journal of Environment & Development (JOURNAL)
Journal identifiersISSN: 1070-4965 • E-ISSN: 1552-5465
PublisherSAGE Publications (PUBLISHER • US)
DOI10.1177/10704965231211591
OpenAlexW4388070141
LanguageEN
Citations received2
References cited31

ASEAN countries face significant environmental challenges contributing to climate change, biodiversity loss, deforestation, and soil degradation. Green banking can help redirect investments toward environmentally friendly activities and discourage deforestation by incentivizing sustainable financing and penalizing unsustainable practices. The article examines the potential benefits of green banking in promoting sustainable financing and discusses the challenges and opportunities for its implementation in ASEAN countries. This article was prepared using a simplified PRISMA method using selected literature and legal materials. The findings suggest that green banking can be vital in promoting sustainable financing and addressing deforestation in ASEAN countries. However, it requires a collaborative effort from stakeholders, including financial institutions, policymakers, and civil society. Importantly, there is a need for legal norms in several ASEAN to be carefully reformulated to support green banking performance

Business · Economics · Environmental degradation · Natural resource economics · Sustainable development · Energy, Environment, Economic Growth · Environmental law and policy · Sustainable Finance and Green Bonds · Ecology · Finance

Tools

Open DOI