Green Banking Practices of Public Sector Banks in Sri Lanka

Abstract

Business organizations cannot operate by considering profit only because of the increase in environment awareness. Thus, there is a move in the direction to environmentally sensitive. One of those areas is Green Banking. Banks are possibly benefited from green banking practices by giving special attention to environmentally-friendly initiatives and reducing internal and external carbon foot prints from which the country gets environmental benefits. Lack of research regarding the green banking practices of public banks (Bank of Ceylon, National Savings Bank and Peoples Bank) in Sri Lanka. This study attempts to fill this gap by examining the existing green banking practices of public sector banks. In order to achieve the purpose of this study, secondary data from recent year annual report of public banks have been used and content analysis was applied. This study has identified and explored 76 green banking practices among the three public sector banks in Sri Lanka. Results show that public sector banks are practicing several green banking practices.