The intrinsic role of the banks in decarbonizing the economy
Global warming and climate change continue to disrupt the environment and all aspects of people’s endeavors and as such, there is need to look at causes of climate change and deploy appropriate tools to address the problem of the scourge of climate change. The bank holds a pivotal position in the ec...
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2017-11-01
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| Series: | Banks and Bank Systems |
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| Online Access: | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/9580/BBS_2017_04_Odeku.pdf |
| _version_ | 1818134352521854976 |
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| author | Kola O. Odeku |
| author_facet | Kola O. Odeku |
| author_sort | Kola O. Odeku |
| collection | DOAJ |
| description | Global warming and climate change continue to disrupt the environment and all aspects of people’s endeavors and as such, there is need to look at causes of climate change and deploy appropriate tools to address the problem of the scourge of climate change. The bank holds a pivotal position in the economy of any country. Apart from being the custodian of money, they also collaborate with the government and international financial institutions to perform various roles that shape the direction of the world’s economy in terms of growth and development. Against the backdrop of this, this article looks at banks as part of the appropriate tools that should constantly be used to address and reduce the influence of fossil fuels that are fuelling global warming and climate change and switch to more sustainable green economy. In order to achieve this, there should be radical acceleration in advancing credit and loan facilities by banks to fund green projects and investments in order to decarbonize the economy, and at the same time maintain sustainable economic growth and development. |
| first_indexed | 2024-12-11T09:07:15Z |
| format | Article |
| id | doaj.art-f2bb8b8108b24dfaab519fbad89e74ee |
| institution | Directory Open Access Journal |
| issn | 1816-7403 1991-7074 |
| language | English |
| last_indexed | 2024-12-11T09:07:15Z |
| publishDate | 2017-11-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Banks and Bank Systems |
| spelling | doaj.art-f2bb8b8108b24dfaab519fbad89e74ee2022-12-22T01:13:36ZengLLC "CPC "Business Perspectives"Banks and Bank Systems1816-74031991-70742017-11-01124445510.21511/bbs.12(4).2017.049580The intrinsic role of the banks in decarbonizing the economyKola O. Odeku0Prof., Faculty of Management and Law, School of Law, Department of Public and Environmental Law, University of Limpopo, TurfloopGlobal warming and climate change continue to disrupt the environment and all aspects of people’s endeavors and as such, there is need to look at causes of climate change and deploy appropriate tools to address the problem of the scourge of climate change. The bank holds a pivotal position in the economy of any country. Apart from being the custodian of money, they also collaborate with the government and international financial institutions to perform various roles that shape the direction of the world’s economy in terms of growth and development. Against the backdrop of this, this article looks at banks as part of the appropriate tools that should constantly be used to address and reduce the influence of fossil fuels that are fuelling global warming and climate change and switch to more sustainable green economy. In order to achieve this, there should be radical acceleration in advancing credit and loan facilities by banks to fund green projects and investments in order to decarbonize the economy, and at the same time maintain sustainable economic growth and development.https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/9580/BBS_2017_04_Odeku.pdfbanksclimate changegreen investmentsrenewable energysustainability |
| spellingShingle | Kola O. Odeku The intrinsic role of the banks in decarbonizing the economy Banks and Bank Systems banks climate change green investments renewable energy sustainability |
| title | The intrinsic role of the banks in decarbonizing the economy |
| title_full | The intrinsic role of the banks in decarbonizing the economy |
| title_fullStr | The intrinsic role of the banks in decarbonizing the economy |
| title_full_unstemmed | The intrinsic role of the banks in decarbonizing the economy |
| title_short | The intrinsic role of the banks in decarbonizing the economy |
| title_sort | intrinsic role of the banks in decarbonizing the economy |
| topic | banks climate change green investments renewable energy sustainability |
| url | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/9580/BBS_2017_04_Odeku.pdf |
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