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Banks And International Trade Finance: Green Practices In Letters Of Credit

Author

Listed:
  • CLAUDIA GABRIELA BAICU

    (Department of Economic Integration and Financial Markets, Institute for World Economy, Romanian Academy)

Abstract

The aim of this paper is to assess the role of banks in green trade finance, with a focus on the letters of credit. The research findings highlight that, among other initiatives, banks have begun to promote sustainable development through trade finance products, facilitating international trade in environmental goods and services. The multilateral development banks can also contribute to increasing international trade finance availability. In this respect, the trade finance facilitation programmes developed by the International Finance Corporation and the European Bank for Reconstruction and Development are relevant. However, green trade finance is facing a lot of challenges, including lack of international standards, but efforts are underway to address them.

Suggested Citation

  • Claudia Gabriela Baicu, 2024. "Banks And International Trade Finance: Green Practices In Letters Of Credit," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 12(2), pages 45-51, December.
    • Handle: RePEc:ntu:ntugeo:vol12-iss2-45-51
    as

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    File URL: http://www.globeco.ro/wp-content/uploads/vol/split/vol_12_no_2/geo_2024_vol12_no2_art_005.pdf
    File Function: First version, 2024
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    More about this item

    Keywords

    green trade finance; letter of credit; banks; development banks; sustainable development; environmental goods and services;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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