International Journal of Scientific & Technology Research

Home About Us Scope Editorial Board Contact Us

IJSTR >> Volume 9 - Issue 10, October 2020 Edition

International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616

The Extent Of Awareness Regarding Green Financing Among Jordanian Commercial Banks From The Perspective Of Investment Department Managers

[Full Text]



Dr. Marwan Mohamed Abu Orabi



Green Financing, Green Bonds, Green Economy, Green Banking, Sustainable, Sustainability, Development, Developing



Current study is an attempt to find out the awareness level of commercial banks in Jordan about the concept of green financing and the extent of the commercial banks' use of this type of financing. The current study relied on the quantitative methodology by distributing a questionnaire to (142) managers, leaders and employees in commercial banks in Jordan - (49) commercial bank. Results of the study proved that there is an acceptable level of awareness within the categories studied in banks about the concept of green financing and that there is an actual application for this type of finance within banks in Jordan.also, results indicated that the first and most important supporter of green financing in banks are the government, legislations and laws must be framed and oriented towards supporting foreign investment in environmental projects in addition to back up banks in its approaches to finance green investments.



[1] Acheampong, J. (2016). Green financing: financing circular economy companies: case studies of Ragn-Sellsföretagen AB and Inrego AB.
[2] Andreeva, O. V., Vovchenko, N. G., Ivanova, O. B., & Kostoglodova, E. D. (2018). Green Finance: Trends and Financial Regulation Prospects. Contemporary Issues in Business and Financial Management in Eastern Europe, 9.
[3] Ascensão, F., Fahrig, L., Clevenger, A. P., Corlett, R. T., Jaeger, J. A., Laurance, W. F., & Pereira, H. M. (2018). Environmental challenges for the Belt and Road Initiative. Nature Sustainability, 1(5), 206-209.
[4] Baker, M., Bergstresser, D., Serafeim, G., & Wurgler, J. (2018). Financing the response to climate change: The pricing and ownership of US green bonds (No. w25194). National Bureau of Economic Research.
[5] Cui, L., & Huang, Y. (2018). Exploring the schemes for green climate fund financing: international lessons. World Development, 101, 173-187.
[6] D'Amato, D., Droste, N., Allen, B., Kettunen, M., Lähtinen, K., Korhonen, J., ... & Toppinen, A. (2017). Green, circular, bio economy: A comparative analysis of sustainability avenues. Journal of Cleaner Production, 168, 716-734.
[7] Dawson, N., Martin, A., & Sikor, T. (2016). Green revolution in Sub-Saharan Africa: implications of imposed innovation for the wellbeing of rural smallholders. World Development, 78, 204-218.
[8] Dörry, S., & Schulz, C. (2018). Green financing, interrupted. Potential directions for sustainable finance in Luxembourg. Local Environment, 23(7), 717-733.
[9] DuPont, C., Levitt, J., & Bilmes, L. (2015). Green bonds and land conservation: The evolution of a new financing tool.
[10] Falcone, P. M., & Sica, E. (2019). Assessing the opportunities and challenges of green finance in Italy: An analysis of the biomass production sector. Sustainability, 11(2), 517.
[11] Flaherty, M., Gevorkyan, A., Radpour, S., & Semmler, W. (2017). Financing climate policies through climate bonds–A three stage model and empirics. Research in International Business and Finance, 42, 468-479.
[12] Ilić, B., Stojanovic, D., & Pavicevic, N. (2018). Green financing for environmental protection and sustainable economic growth–a comparison of Indonesia and Serbia. Progress in Economic Sciences, (5).
[13] Kulsum, R., & Huda, S. S. (2018). Re-Thinking About The Green Banking Model In The Context Of Bangladesh. The Journal of Developing Areas, 52(2), 197-214.
[14] Lalon, R. M. (2015). Green banking: Going green. International Journal of Economics, finance and management sciences, 3(1), 34-42.
[15] Lam, P. T., & Law, A. O. (2016). Crowdfunding for renewable and sustainable energy projects: An exploratory case study approach. Renewable and Sustainable Energy Reviews, 60, 11-20.
[16] Li, J., Pan, S. Y., Kim, H., Linn, J. H., & Chiang, P. C. (2015). Building green supply chains in eco-industrial parks towards a green economy: Barriers and strategies. Journal of environmental management, 162, 158-170.
[17] Loiseau, E., Saikku, L., Antikainen, R., Droste, N., Hansjürgens, B., Pitkänen, K., ... & Thomsen, M. (2016). Green economy and related concepts: An overview. Journal of cleaner production, 139, 361-371.
[18] Meltzer, J. P. (2016). Financing low carbon, climate resilient infrastructure: The role of climate finance and green financial systems. Climate Resilient Infrastructure: The Role of Climate Finance and Green Financial Systems (September 21, 2016).
[19] Miroshnychenko, I., Barontini, R., & Testa, F. (2017). Green practices and financial performance: A global outlook. Journal of Cleaner Production, 147, 340-351.
[20] Mundaca, L., & Richter, J. L. (2015). Assessing ‘green energy economy’stimulus packages: Evidence from the US programs targeting renewable energy. Renewable and Sustainable Energy Reviews, 42, 1174-1186.
[21] Ng, A. W. (2018). From sustainability accounting to a green financing system: institutional legitimacy and market heterogeneity in a global financial center. Journal of Cleaner Production, 195, 585-592.
[22] Olomola, A., & Adesugba, M. (2015). Transforming Nigerian agriculture in the context of a green economy: financing challenges, opportunities and mechanisms. Nigerian Journal of Agricultural Economics, 5(2066-2018-849), 1-11.
[23] Owen, R., Brennan, G., & Lyon, F. (2018). Enabling investment for the transition to a low carbon economy: government policy to finance early stage green innovation. Current Opinion in Environmental Sustainability, 31, 137-145.
[24] Oyegunle, A., & Weber, O. (2015). Development of sustainability and green banking regulations: Existing codes and practices.
[25] Park, S. K. (2018). Investors as regulators: Green bonds and the governance challenges of the sustainable finance revolution. Stan. J. Int'l L., 54, 1.
[26] Porfir’ev, B. (2016). Green trends in the global financial system. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 60(9), 5-16.
[27] Roz, P. (2019). The international community’s role in the climate and environment space in Jordan. Institute of Development Studies, 10(19)
[28] SM Mahfuzur, R., & Barua, S. (2016). The design and adoption of green banking framework for environment protection: Lessons from Bangladesh. Rahman, SMM, & Barua, S.(2016). The design and adoption of green banking framework for environment protection: lessons from Bangladesh. Australian Journal of Sustainable Business and Society, 2(1), 1-19.
[29] Spratt, S. (2015). Financing green transformations. In The politics of green transformations (pp. 171-187). Routledge.
[30] Volz, U., Böhnke, J., Knierim, L., Richert, K., Roeber, G. M., & Eidt, V. (2015). Financing the green transformation: How to make green finance work in Indonesia. Springer.
[31] Wang, L., Cui, Z., & Liang, X. (2015). Does it pay to be green? Financial benefits of environmental labeling among Chinese firms, 2000–2005. Management and Organization Review, 11(3), 493-519.