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Challenges and Sustainability of Green Finance in the Tourism Industry: Evidence From Bangladesh

Challenges and Sustainability of Green Finance in the Tourism Industry: Evidence From Bangladesh
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Author(s): Sanjeev Kumar (Lovely Professional University, India), Mohammad Badruddoza Talukder (Daffodil Institute of IT, Dhaka, Bangladesh), Firoj Kabir (Daffodil Institute of IT, Dhaka, Bangladesh)and Fahmida Kaiser (Daffodil Institute of IT, Dhaka, Bangladesh)
Copyright: 2024
Pages: 15
Source title: Sustainable Investments in Green Finance
Source Author(s)/Editor(s): Sanjay Taneja (Graphic Era University (Deemed), India), Pawan Kumar (Chandigarh University, India), Simon Grima (Department of Insurance, Faculty of Economics Management and Accountancy, University of Malta, Msida, Malta & Faculty of Business, Management and Economics, University of Latvia, Riga, Latvia), Ercan Ozen (Usak University, Turkey)and Kiran Sood (Chitkara Business School, Chitkara University, India & Research Fellow at the Women Researchers Council (WRC) at Azerbaijan State University of Economics (UNEC), Azerbaijan)
DOI: 10.4018/979-8-3693-1388-6.ch006


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A country's tourism sector is a vital component of economic growth. It can benefit from 'green finance' by raising the bar for service and increasing its sense of social responsibility. Banks and other non-bank financial entities worldwide have participated in green finance initiatives for developing the tourism industry. Based on reviews of secondary sources (such as academic papers, reports on sustainability from different economic and organizations that support the environment, and printed materials of the Bangladesh bank), this chapter aims to highlight the difficulties and potentials of green banking as well as the various types of green financing (such as green mortgages, green credit cards, and green bonds), as well as the advantages of green finance in the tourism sector in Bangladesh. In addition to describing existing green finance techniques in the tourism industry, this chapter identifies the primary obstacles to expanding such practices and offers potential solutions. Enhancing green finance practices within the tourism sector are highlighted in this chapter.

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