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Green banking adoption practices: the pathway of meeting sustainable goals

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Abstract

Increased global warming has compelled organizations, industries, and nations to take ecologically responsible actions. Previously, the service industry, such as banking, was not deemed environmentally detrimental, despite the fact that it also has a negative impact on the environment; therefore, banks must embrace green practices. In light of this, the present study seeks to ascertain the determinants that influence the adoption of “green banking practices” (GBP) through the integration of the “diffusion of innovation (DOI)” and the “Technology-Organizational-Environmental framework (TOE).” A survey with Likert scale questions was used to collect data from bank employees, and “partial least square-structural equation modeling (PLS-SEM)” was used to test the hypotheses. According to the research findings, the GBP is influenced by the technological element known as relative advantage. Furthermore, the GBP is influenced positively by both organizational factors. Also, among environmental factors, regulatory pressure, government support, and environmental uncertainty affect the adoption of GBP. The study’s conclusions have significant consequences for banks, lawmakers, and environmentalists. The findings of this study will aid nations in achieving sustainable development goals (SDGs) through the implementation of green banking policies. Given the nascent stage of the green banking field, this study contributes by presenting several implications aimed at mitigating the adverse environmental impacts through the adoption of GBP. Moreover, this study is the first attempt to incorporate DOI and TOE frameworks in the assessment of adoption of GBP.

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Data availability

The datasets generated during and/or analyzed during the current study are available from the corresponding author on reasonable request.

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  1. Karachi University Business School, University of Karachi, Karachi, Pakistan

    Wajeeha Aslam

  2. IQRA University, Gulshan Campus, Karachi, Pakistan

    Wajeeha Aslam

  3. Applied Economics Research Centre, University of Karachi, Karachi, Pakistan

    Syed Tehseen Jawaid

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  1. Wajeeha Aslam
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Aslam, W., Jawaid, S.T. Green banking adoption practices: the pathway of meeting sustainable goals. Environ Dev Sustain (2023). https://doi.org/10.1007/s10668-023-03893-8

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