Green banking is like a normal bank, which considers all the social and environmental factors, it is also called as a ethical bank. Ethical banks have started with the aim of protecting the environment. These banks are like a normal bank which aims to protect the environment and it is controlled by same authorities as what a traditional banks do. How do Green/Ethical banking differs from Normal banking?
There are many differences compared with normal banking, they give more weight to environmental factors, their aim is to provide good environmental and social business practice, they check all the factors before lending a loan, whether the project is environmental friendly and has any implications in the future, you will awarded a loan only when you follow all the environmental safety standards. Benefits of Ethical/Green banking
Basically Ethical banking avoids as much as paper work, you get go green credit cards, go green mortgages and also all the transactions done through online. •
Creating awareness to business people about environmental and social responsibility enabling them to do a environmental friendly business practice. •
They follow environmental standards for lending, which is really a good idea and it will make business owners to change their business to environmental friendly which is good for our future generations. •
When you are awarded with a loan, the interest of that loan is comparatively less with normal banks, because ethical banks give more importance to environmental friendly factors they do not operate with high interest rates. Overall Green banking is really a good way for people to get more awareness about global warming. Each businessman will contribute a lot to the environment and make this earth a better place to live. Thanks to green banking.
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