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Environmental risks over business activities has been brought into the concerns of the world at large post 1960s and have been ever so increasingly been taken up as a matter of serious importance as it affects the very existence of all life form if let to roam free and unattended. However, the liabilities of banks and other financial institutions, which source the finances for different business activities and especially for large scale project, were not considered as something that needs to be monitored and conditioned. As the World Economic Forums predicts that the most alarming threats to the World Economy in the next 10 years would be extreme weather events, natural disasters, failure of climate change mitigation/adaptation, water crises, biodiversity loss, and air & soil pollution, there is a desperate need to attempt every possible ways to reduce the environmental risks involved in developmental projects. One of the unfortunately neglected areas of environmental risk management in India is the project finance undertaken by the banking institutions for various infrastructural constructions. This research paper attempts to find the numerous global initiatives for ecofriendly project finance activities by banks, so that it can be contrasted and evaluated with the Indian banking milieu. The need for wide-ranging regulations which fosters the international sustainable financing doctrines and the possibilities of green financing are also attempted to be explored in this paper.
