A Multi-Analytical Approach to Investigate the Motivations of Sustainable Green Technology in the Banking Industry: Do Gender and Age Matter?

Green Technology in the Banking Sector

Typically, banks’ operational activities are not directly associated with the environment; however, their eco-friendly stance has a considerable external effect on the overall environment (Javeria et al., 2019; Rehman et al., 2021). Traditional banks heavily contribute to carbon emissions through paper use and electricity consumption through extensive networks of branches, apart from financing intermediaries that have an external impact on the environment (Rehman et al., 2021). However, the promotion of GB technology services and green financing can contribute to minimizing the adverse environmental impact to a greater extent (Rehman et al., 2021).

Overall, GB is a banking ideology adopted by the banking sector to inculcate the values of environmental ethics in the daily banking operations and financing portfolio (Bukhari et al., 2022). The operation of GB adoption is context-based, owing to its reliance on the several external aspects existing in the respective countries, the internal capabilities of the banking industry, and other related resources (Shaumya & Arulrajah, 2017). It can be in the form of implementing green management practices, green operations, green buildings, green finance, green technology, promoting green products and services, green marketing, green disclosure (Bukhari et al., 2019) or the digitalization of banking services to reduce the usage of resources such as paper (Bukhari et al., 2022). In this study, GB technology refers to eco-friendly practices that lower carbon footprints from banking operations by promoting technology-based financial services like e-banking, mobile banking, e-fund transfer, e-payment, e-statement and other paperless transactions provided by banks. These innovative financial services promote GB since they reduce paper use and achieve sustainability.