scholarly journals Sustainable economic development through green innovative banking and financing

2020 ◽  
Vol 4 (2) ◽  
pp. 35-44
Author(s):  
Dragica Stojanović
Keyword(s):  
Economic Development ◽  
Environmental Sustainability ◽  
Banking Sector ◽  
Theoretical Concept ◽  
Business Practices ◽  
Financial Industry ◽  
Socially Responsible ◽  
Sustainable Economic Development ◽  
Green Finance ◽  
Relevant Role

The essence of the paper is a new concept of finance, which is synchronized with the environmental processes of the planet development - green finance. Green finance is positioned between the financial industry, sustainable economic development, and environmental protection. Banks can play a relevant role in promoting environmental sustainability by financing environmentally and socially responsible projects. To fulfill this role, the banking sector in certain countries has adopted the concept of Green Banking which promotes environmentally responsible financing and sustainable internal processes. The paper aims to study the role of banks in sustainable economic development through green banking activities. Building on the theoretical concept of green finance and green banking activities, it is ultimately suggested that developing green banking products are is a proactive idea that might enable eco-friendly business practices for present and future generations.

IMPLEMENTATION OF THE PRINCIPLES OF SUSTAINABLE ECONOMY DEVELOPMENT AS A KEY ELEMENT OF THE PRO-ECOLOGICAL TRANSFORMATION OF THE ECONOMY TOWARDS GREEN ECONOMY AND CIRCULAR ECONOMY

2020 ◽  
Vol 11 (1) ◽  
pp. 417-480
Author(s):  
Dariusz Prokopowicz
Keyword(s):  
Economic Development ◽  
Social Responsibility ◽  
Circular Economy ◽  
Fossil Fuels ◽  
Global Financial Crisis ◽  
Green Revolution ◽  
Interdisciplinary Approach ◽  
Green Economy ◽  
Sustainable Economic Development ◽  
Green Finance

Economic crises often become the source of new business concepts and the transformation of economic systems. Since the global financial crisis of 2008, the importance of implementing the principles of sustainable economic development has been growing as a key element of the green revolution and the transformation of the existing, traditional, brown economy of surplus into a sustainable, green economy of moderation. However, the main factor behind the increase in popularity in the world of science of the issues of sustainable economic development, social environmental responsibility, green economy and circular economy are confirmed by the results of research conducted by climatologists, biologists, ecologists, etc. the process of global warming, the source of which is the growing emission of greenhouse gases, which is a side effect of the development of civilization based to a large extent on the classic model of energy production based on the combustion of fossil fuels. This article deals with a holistic, interdisciplinary approach to the issues of determinants of the implementation of the principles of sustainable development into economic processes, including corporate social responsibility, environmental social responsibility, eco-innovation, green finance and the pro-ecological transformation of the economy towards green economy and circular economy.

Predicting the Role of Islamic Banking on Sustainable Economic Development

2020 ◽  
pp. 146-164 ◽  
Author(s):  
Serkan Eti ◽  
Hakan Kalkavan ◽  
Hasan Dinçer ◽  
Serhat Yüksel
Keyword(s):  
Economic Development ◽  
Growth Process ◽  
Banking Sector ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Sustainable Economic Development ◽  
The Future

This chapter aims to predict the future of Islamic banking in Turkey. Three different Islamic banks operating in Turkey were taken to the scope of review. Within this framework, six different variables that are important for the banking sector have been identified. The data of these variables in the 2010-2018 period were analyzed by ARIMA method, and six different models were established. As a result, it is predicted that Islamic banking will grow in the future, and its profitability will increase. However, the ratio of non-performing loans is expected to increase, and capital is expected to decrease. Therefore, Islamic banks should be more cautious in this growth process. In this context, it is important to conduct an effective credibility analysis of customers to be loaned. This situation has a contributing effect on the sustainable economic development of the country.

scholarly journals Current trends in the development of social responsibility in personnel management

2021 ◽  
Vol 71 (4) ◽  
pp. 92-98
Author(s):  
O. Leontenko ◽  
A. Ilyenko
Keyword(s):  
Economic Development ◽  
Social Responsibility ◽  
Personnel Management ◽  
Mobile Communications ◽  
Banking Sector ◽  
Professional Staff ◽  
Media Industry ◽  
Socially Responsible ◽  
Responsible Behavior ◽  
Corporate Social

In today's economic development, managers of large and successful companies understand that in order to attract highly professional staff, it is not enough to use traditional methods of motivation, such as salaries, bonuses, incentive awards. Nowadays while choosing a job, the employees are increasingly paying attention to the existing systems of social benefits and guarantees that employers can offer them. The importance of these issues has increased significantly in the form of the threats facing humanity, as the result of Covid-2019 pandemic. Taking into account the relevance of the chosen topic, publications of leading domestic scientists on the problems of formation and further CSR development are analyzed in this paper. In their investigations, the authors emphasize the need to strengthen social responsibility of all economic entities and identify tools for socially responsible behavior of employers to improve the welfare of employees and their families. The paper identifies that there is an urgent need for changes in understanding the social responsibility concept on different levels, both on macro level and individual organization level, and its employees. Different approaches to the formation of the concept of corporate social responsibility in personnel management are investigated in this paper. Different interpretations of social responsibility and the reasons for the need to strengthen it in modern economic development are given. The author's own interpretation of social responsibility in personnel management is formulated. The main directions for the implementation of social responsibility in the personnel management system are defined. The experience of leading Ukrainian companies in various fields of activity, particularly, media industry, mobile communications, banking sector, retail network concerning their existing practices of social responsibility in personnel management is considered. The role of personnel departments (services) in the development and implementation of social responsibility measures is investigated. As the result of carried out investigation, the areas for strengthening social responsibility in the field of personnel management are identified.

scholarly journals Environment, Equity, and Economic Development Goals: Understanding Differences in Local Economic Development Strategies

2017 ◽  
Vol 31 (3) ◽  
pp. 196-209 ◽  
Author(s):  
Xue Zhang ◽  
Mildred E. Warner ◽  
George C. Homsy
Keyword(s):  
Economic Development ◽  
Environmental Sustainability ◽  
Local Governments ◽  
Local Economic Development ◽  
Social Equity ◽  
Local Environment ◽  
Development Strategies ◽  
Community Economic Development ◽  
Sustainable Economic Development ◽  
Economic Development Strategies

What role do local governments play in promoting sustainable economic development? This study uses a 2014 national survey to analyze the relationship between local environment and social equity motivations and the kinds of economic development strategies local governments pursue (business incentives or community economic development policies). Municipalities that pay more attention to environmental sustainability and social equity use higher levels of community economic development tools and lower levels of business incentives. These places are also more likely to have written economic development plans and involve more participants in the economic development process. In contrast, communities that use higher levels of business incentives have lower income and are more dependent on manufacturing employment. Other capacity measures do not differentiate types of economic development strategies used. This suggests that sustainable economic development strategies can be pursued by a broad array of communities, especially if the motivations driving their economic development policy include environment and equity goals.

scholarly journals Business Strategies and Environmental Sustainability

2020 ◽  
Author(s):  
Pinky Rajwani
Keyword(s):  
Environmental Sustainability ◽  
Manufacturing Sector ◽  
Sustainable Manufacturing ◽  
Global Market ◽  
Marketing Strategies ◽  
Business Strategies ◽  
Business Practices ◽  
Socially Responsible ◽  
Environmentally Conscious ◽  
Business World

The conceptual paper is based on ethics and social responsibility towards environmental and sustainable development. The great challenge of the twenty-first century is raising people everywhere to a modest standard of living while preserving as much of the rest of life as possible. We've reached a point where we have to end the burden we've placed on the Earth. Socially Responsible enterprises are those which operationalize their corporate responsibilities in their strategies and business practices keeping in mind better relationships with their stakeholders and focussing to maximise environmental sustainability. The concentration of the company should not only cover one aspect, but responsibility should also be applied into the core values of the company, in order to enable maximum performance. The main focus of the study is socially responsible enterprises and their responsible marketing strategies. Sustainability has always been an important concern for the manufacturing sector and consumer demand for environmentally conscious products is also increasing. A large number of manufacturers have come up with ideas to get advantage from business practices which are sustainable. Manufacturing through viable techniques will create products with the help of processes which are economical and that curtails negative environmental impacts simultaneously conserving energy and natural resources. Responsible marketing is using eco-friendly materials, using less paper, using more digital technology to save on materials and cost of delivery. Many companies have started taking "sustainability" as a very important factor while making planning and marketing strategies to elevate and increase the global market. Changes in this industry have reached well beyond the boundaries of just going "green," and now it also includes many big business houses across different industries. In today’s business world, these efforts are having significant results.

scholarly journals ENSURING STABLE ECONOMIC DEVELOPMENT THROUGH THE EFFICIENT FUNCTIONING OF THE BANKING SECTOR

2021 ◽  
Vol 4 (39) ◽  
pp. 35-49
Author(s):  
T. Girchenko ◽  
I. Boiarko ◽  
O. Storozhenko ◽  
I. Semeniuk
Keyword(s):  
Economic Development ◽  
Financial Services ◽  
Banking Sector ◽  
Banking System ◽  
Digital Technologies ◽  
Investment Banking ◽  
Financial Sector ◽  
Jel Classification ◽  
Macroprudential Policy ◽  
Sustainable Economic Development

Abstract. The article explores ways to ensure stable economic development through the efficient functioning of the banking sector. The concept of stable development and efficiency of the banking system is revealed. The key principles of macroprudential and microprudential policy are analyzed and the main advantages of each of them are determined. The tools for implementing macroprudential policy to ensure sustainable economic development are described. The peculiarities of the application of rating assessment, the role of state-owned banks and investment banking as the most optimal measures to ensure economic development are outlined. Promising digital technologies in the banking system, which have a long-term strategic nature of development, are presented.             It is confirmed that the development of the country’s economy depends on many factors of the internal organization of the microeconomic environment. Among the aspects of qualitatively increasing the competitiveness of the national economy, an important component is the emphasis on the policy of strengthening the efficiency of the market sector. The infrastructure of the market and financial sector consists of instruments of financial influence, as well as additional comprehensive measures aimed at creating a multi-channel system of various institutions and institutions, a structured real financial services sector given the overall stability of the banking system. The quality and efficiency of the financial sector can be determined, in particular, by the indicators of the peculiarities of the creation of market goods and services, which create an opportunity to create market relations at optimal prices. We concluded that the last important factor for the prospect of sustainable economic development through the efficient functioning of the banking system is the use of digital technologies, because the world is rapidly transitioning from traditional to digital economy, so the banking system must be transformed into modern realities using current innovative technologies. . Keywords: stable economic development, banking system, investment banking, rating assessment, macroprudential policy. JEL Classification O16, O29, G21 Formulas: 0; fig.: 0; tabl.: 7; bibl.: 12.

scholarly journals Research on China’s Green Finance Promoting Sustainable Economic Development

2021 ◽  
Vol 275 ◽  
pp. 02049
Author(s):  
Kai Xiong ◽  
Yijun Yao
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Market Mechanism ◽  
The Sustainable Development ◽  
Development Status ◽  
Financial Products ◽  
Sustainable Economic Development ◽  
Green Finance ◽  
Green Development ◽  
Normal Green

With China’s economic development entering a new normal, green finance has become a new direction to explore the sustainable development of economy in the supply side structural reform task of “three removal, one reduction and one compensation”. Firstly, this paper analyzes the concept of green finance and its development status. Secondly, taking green credit as an example, this paper makes an empirical study on the contribution of green finance to sustainable economic development. Finally, according to the results of empirical research, some suggestions including increasing the application proportion of green finance, improving green financial products and business model and forming a market mechanism for green finance to promote green development independently, are put forward to improve the sustainable development of green finance in China.

Development and the Environment—A Third World Perspective

1988 ◽  
Vol 64 (6) ◽  
pp. 464-468
Author(s):  
Prem Kumar ◽  
K. K. Sharma
Keyword(s):  
Economic Development ◽  
World Bank ◽  
Third World ◽  
Theoretical Concept ◽  
Best Interests ◽  
The Third ◽  
Sustainable Economic Development ◽  
The World Bank ◽  
The World ◽  
The Third World

Sustainable economic development and the environment are the two sides of a coin. The World Bank as the largest financier of the Third World development must seek not only a decent return on its investment, but it must also ensure that development projects are appropriate and in the best interests of developing countries. To achieve these goals, the Third World must be allowed to make its own decisions on development issues. This requires the substantial dilution of the World Bank's power and an enhanced role for the Third World technical manpower to act as catalysts for development and technology transfer. Sustainable economic development will remain as a theoretical concept unless this orientation is brought about in the World Bank. Without changes, the World Bank has the potential of becoming the largest agent of environmental degradation in the world.

Socially responsive consumption behaviour – an Indian perspective

2016 ◽  
Vol 12 (1) ◽  
pp. 85-102 ◽  
Author(s):  
Meenakshi Gandhi ◽  
Neeraj Kaushik
Keyword(s):  
Economic Development ◽  
Socially Responsible ◽  
Middle Income ◽  
Content Type ◽  
Sustainable Economic Development ◽  
Consumption Behaviour ◽  
Responsible Consumption ◽  
Personal Contribution ◽  
Socially Responsible Consumption ◽  
The Government

Purpose – There is a need to promote socially responsible consumption which would accelerate the efforts of economic upliftment and sustainable development initiated by the government and corporates through corporate social responsibility initiatives. This study aims to explore the factors that contribute to socially responsible consumption across demographic factors. Design/methodology/approach – The socially responsible consumption behaviour (SRCB) scale developed by Antil and Bennet was used to gather responses on a five-point Likert scale along with information on demographic profile from the residents of Delhi National Capital Region. Findings – The factor analysis revealed a striking finding that personal contribution is the most important factor that governs socially responsible consumption, and this factor also emerges across demographic variables to have significant contribution for the consumption. Gender wise, there is no significant difference, while education bears an inverse relationship with SRCB. People in the middle-income group with lower incomes and younger in age are more likely to exhibit SRCB. Research limitations/implications – The implications for marketers is to use the results of this study in their promotion for targeting consumers by focusing on the joy/pride of personal contribution in being socially responsible while they fulfil their product purchase needs that could create a loyal segment of consumers who would buy such products and further spread a positive word of mouth to convert non-consumers into buyers, leading to sustainable economic development. Policymakers and the Government need to promote SRCB by subsidizing goods that are generated from such sources to enhance their usage. Younger Indians, in the early years of their career and people in middle-income groups, are promising customers with higher inclination to be socially responsible in their purchase behaviour. This paper presents a practical dimension of personal contribution that could be used to develop promotion strategies to motivate consumers towards socially responsible consumption. Practical implications – These incorporate usage of the results of this study to promote cause-related marketing, wherein a company donates a portion of each purchase made by its customers during a specific period to a socially responsible cause. Marketers can enhance the purchase of socially responsible products by creating awareness among their target consumers about the consequences of their purchase and their personal contribution in community development. Creating confidence among customers and goodwill by providing awareness of the contribution made by firms in the social development of the country will encourage customers to patronize products of such firms, as they would feel a sense of personal contribution in nation development by supporting buying from such firms. Social implications – The adoption of socially responsible consumption by the vast majority of population shall uplift the economically backward sections of society, thereby creating employment opportunities and incomes at the bottom of the pyramid, ultimately, leading to sustainable economic development and attainment of millennium development goals. Originality/value – This is a maiden attempt to gain an insight into the Indian SCRB. This can be a base for further studies in the area of socially responsible consumption which is relatively unexplored in the Indian context.

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