As part of her doctoral studies, Sophie Hadfield-Hill conducted forty interviews with CEOs and senior management of Indian banks and leading companies to explore the extent to which India’s corporate sector is following the ‘green’ agenda.
Sophie said: ‘There is certainly a lack of awareness of the Equator Principles in India. Leading banks are vaguely conscious of the guidelines, however, the public sector is waiting to be led by the Reserve Bank of India and the private sector banks seem to only want to commit if there is regulation or financial incentive.’ Current signatories such as Barclays and HSBC committed to the guidelines on a voluntary basis..
Sophie said: Indian banks are yet to declare their commitment to environmentally and socially responsible business, due to lack of interest from the Indian consumer.
Work needs to be done to make the guidelines more relevant to emerging economies. Firstly, however, Indian banks need to be made fully aware of the environmental and social guidelines to which banks worldwide are agreeing to.
‘As a researcher who has now interviewed the senior management of the majority of India’s leading banks, I feel I have helped to raise awareness of environmental and social issues among the Indian banking sector.’
If Indian banks do not become signatories, this will result in huge financial burden for banks committing to environmental and social guidelines. However, as Sophie added: ‘If Indian banks are to penetrate western markets and participate more in the global economy, it is important that they recognise their responsibilities as global corporate citizens.’
Sophie concluded: ‘Banks in India have significant influence over the safeguarding of fragile social groups and environments in Asia. At this time they must seriously consider their attitudes towards responsible lending both nationally and globally.’
Sophie Hadfield-Hill is currently a PhD student at the University of Leicester, conducting research into the ‘greening’ of leading companies and financial institutions in India. Her research stems from an interest into issues of environmental and social justice and the role that corporates can play in sustainable development.
The research is being presented to the public at the University of Leicester on Thursday 26th June. The Festival of Postgraduate Research introduces employers and the public to the next generation of innovators and cutting-edge researchers, and gives postgraduate researchers the opportunity to explain the real world implications of their research to a wide ranging audience.
Ather Mirza | alfa
Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik
RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
Max Planck researchers revel the nano-structure of molecular trains and the reason for smooth transport in cellular antennas.
Moving around, sensing the extracellular environment, and signaling to other cells are important for a cell to function properly. Responsible for those tasks...
Researchers at the University of New Hampshire have captured a difficult-to-view singular event involving "magnetic reconnection"--the process by which sparse particles and energy around Earth collide producing a quick but mighty explosion--in the Earth's magnetotail, the magnetic environment that trails behind the planet.
Magnetic reconnection has remained a bit of a mystery to scientists. They know it exists and have documented the effects that the energy explosions can...
Biochips have been developed at TU Wien (Vienna), on which tissue can be produced and examined. This allows supplying the tissue with different substances in a very controlled way.
Cultivating human cells in the Petri dish is not a big challenge today. Producing artificial tissue, however, permeated by fine blood vessels, is a much more...
Faster and secure data communication: This is the goal of a new joint project involving physicists from the University of Würzburg. The German Federal Ministry of Education and Research funds the project with 14.8 million euro.
In our digital world data security and secure communication are becoming more and more important. Quantum communication is a promising approach to achieve...
On Saturday, 10 November 2018, the research icebreaker Polarstern will leave its homeport of Bremerhaven, bound for Cape Town, South Africa.
19.11.2018 | Event News
09.11.2018 | Event News
06.11.2018 | Event News
20.11.2018 | Life Sciences
20.11.2018 | Life Sciences
20.11.2018 | Physics and Astronomy