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Pathways To Sustainable Banking Management

Author

Listed:
  • Dragan (Santamarian) Oana Raluca

    (Babes-Bolyai University, Cluj Napoca, Faculty of Economics and Business Administration)

Abstract

This paper describes one of the major challenges of the future: the sustainable development of the society. Sustainability is now increasingly recognized as central to the growth of emerging market economies. For the banking sector, this represents both a demand for greater social and environmental responsibility as well as a new landscape of business opportunity. Several years ago, the main part of the banks did not consider the social and environmental problems relevant for their operations. Recently, the banks began to realize the major impact of the sustainable development over the way of ulterior development of the society and, implicitly over the way of creating of the banking value in the future. In this context, the development of a banking management system, based on sustainable principles represents one of the provocations of these days.Starting from literature in the sustainable banking management field in this paper are presented several relevant issues related to risk management in the context of sustainable banking financing: the need to implement the sustainable management principles in financial and banking industry; the role of banks in sustainable development of society; social and environmental risk management policies, events that have shaped the role of the banking sector in sustainable development; international standards regarding sustainable banking management such us: Equator Principles for sustainable investment projects'(tm) financing or GRI principles for sustainable reporting. Furthermore, we developed a practical case study related to the implementation of sustainable banking management at Bank of America.

Suggested Citation

  • Dragan (Santamarian) Oana Raluca, 2012. "Pathways To Sustainable Banking Management," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 545-550, December.
  • Handle: RePEc:ora:journl:v:1:y:2012:i:2:p:545-550
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    File URL: http://anale.steconomiceuoradea.ro/volume/2012/n2/082.pdf
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    References listed on IDEAS

    as
    1. Alexandra Eremia & Ion Stancu, 2006. "Banking Activity for Sustainable Development," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 6(6(501)), pages 23-32, August.
    2. Jeucken, Marcel, 2005. "Sustainability in Finance," University of Chicago Press Economics Books, University of Chicago Press, number 9789059720367.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    sustainable development; sustainable banking management; environmental and social risks; Equator Principles; GRI Principles;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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