FINANCE

The Green Banking Revolution: How Financial Institutions are Leading the Charge for a Sustainable Future

Published

1 year ago

July 18, 2024

The financial sector has long faced criticism for funding and enabling environmentally harmful business practices that exacerbate issues like climate change. However, in recent years a quiet revolution has been taking place as major banks, investment firms, insurance companies and other financial players have begun taking significant steps towards sustainability. This emerging trend, often referred to as “green banking”, looks set to transform finance into a driving force for positive environmental impact.

What is Green Banking?

Green banking refers to efforts by banks and financial institutions to consider social and environmental implications in their lending and other activities. This includes initiatives aimed at:

Reducing their own carbon footprints by increasing energy efficiency in their operations and offsetting unavoidable emissions
Phasing out financing for fossil fuel-related and other environmentally harmful projects
Proactively funding renewable energy, sustainable agriculture, eco-tourism and other “green” initiatives
Incorporating environmental risk analysis into lending and investment decisions

Key Forces Driving Adoption of Green Banking

A number of important interrelated factors are catalyzing the trend towards green finance, including:

Climate change threats – Scientific warnings about potentially catastrophic climate change impacts from parties like the UN Intergovernmental Panel on Climate Change are spurring society-wide action across all sectors. Banks realize they must be part of the solution.
Reputational factors – In an era of unprecedented transparency, banks must consider climate and sustainability impacts to preserve hard-won reputations rebuilt since the global financial crisis.
Customer expectations – Recent surveys reveal a strong majority of banking customers now factor sustainability into their perceptions and choices of financial services providers. Banks must cater to these shifting attitudes.
Competitive pressures – As leading banks aggressively commit to decarbonization and sustainability to both “walk the talk” and uncover related market opportunities, laggard banks feel increasing pressure to follow suit.
Regulations – Financial regulators across Europe, the UK and elsewhere are developing policies, guidelines and reporting frameworks to pivot the sector toward funding more sustainable economic activities and managing climate risk exposure.

Sustainability-Linked Banking Products Proliferating

Many banks now offer customized financial products with built-in incentives promoting sustainable behaviors by retail, commercial and institutional borrowers. These often involve discounted interest rates for meeting pre-agreed “green” key performance indicators (KPIs).

For example, ING in Asia provides sustainability-performance linked loans to hotels and shopping malls offering progressively lower rates for meeting waste diversion and renewable energy usage targets.

In real estate, so-called “green mortgages” provide preferential rates to homeowners buying energy-efficient residences or doing environmental retrofits. Sustainability-linked business loans often stipulate environmentally focused KPIs like GHG emissions, water usage or waste generation reduction targets.

Even sustainability-linked credit cards are emerging, with built-in carbon offsetting contributions or rewards programs letting environmentally conscious users donate to eco causes.

Assessing Climate Risks and Opportunities

While redirecting financial capital towards green economic activities, banks also need to manage growing risks from climate change itself in their financing and investment portfolios.

Extreme weather events, chronic droughts and heatwaves, coastal flooding and other physical climate impacts threaten business continuity and asset values across many sectors – from fossil fuels and manufacturing to real estate, infrastructure and agriculture.

Banks like JP Morgan Chase have begun gauging client exposure to water scarcity, carbon pricing, extreme weather disruptions and other climate-related risks as part of standard due diligence. They also assess investees’ strategies and capacities to decarbonize operations over time in line with Paris Agreement goals.

Such climate risk analysis helps banks finance economic activities resilient to both transition and physical climate impacts – while identifying new green lending opportunities.

Empowering Customers’ Environmental Awareness

Beyond specialized products, many banks now assist accountholders more broadly consider environmental footprints by:

Providing emissions reporting – Lending-related carbon emissions estimates help corporate and institutional clients track and manage climate impacts. Some banks like NatWest even estimate small business customers’ operational emissions through declared energy, water and waste bills to highlight decarbonization opportunities.

Offering eco-savings tips and incentives – Personal banking apps from players like HSBC and UOB provide handy suggestions for reducing household emissions. Reward programs provide additional motivation, like HSBC’s Eco-Credit Cards allowing accumulation and redemption of points for carbon offset purchases.

Such innovations make sustainability top-of-mind for customers in their everyday banking activities – helping catalyze more conscious environmental behaviors economy-wide.

The Vital Role of Policymakers

While the banking sector drives momentum of its own accord, the pace and depth of the sustainability transition depends heavily on clear direction and an enabling environment set by financial policymakers and regulators.

Central banks and financial regulatory bodies across numerous jurisdictions have vital roles to play in pivoting the entire financial system towards adequate management of climate risks and adequate funding of green economic activities aligned with planetary boundaries.

Policy measures like climate risk disclosure mandates, supervised stress testing scenarios, capital charges on fossil fuel exposures, taxonomies defining sustainable activities, and differentiated reserve requirements are just some of the tools available to financial authorities.

Well-designed, coordinated regulatory and policy efforts can provide the necessary push – and level playing field – for the financial sector to channel adequate capital flows towards decarbonization and regeneration across the real economy.

With smart intervention, financial regulators can supercharge private banking efforts – realizing a rapid upscaling of green finance flows so the transition to a net zero economy keeps pace with climate science imperatives.

The Road Ahead

While laudable, banks’ commitments so far represent just early steps on the sustainability journey. Achieving genuine alignment with Paris Agreement 1.5°C goals will necessitate a systemic shift away from financing fossil fuel-dependent activities still underway at most major banks.

However, the pace is accelerating rapidly. The sheer scale of capital flows gives banks unmatched potential to fund the urgent economy-wide decarbonization and drawdown of emissions needed this decade. Green finance must expand beyond niche markets towards catalyzing sustainability transitions across all sectors.

Through these efforts, banks and other financial institutions are positioned to lead the coming green economic revolution – redeeming past climate damages and unlocking a more sustainable, equitable and prosperous future for all.

FINANCE

Learn from Timur Turlov: Practical Financial Advice for the Modern Economy

Published

4 weeks ago

July 19, 2025

Rasheeda

Timur Turlov is the CEO and founder of Freedom Holding Corp, a financial company with a strong presence in Kazakhstan and other parts of Central Asia. He has built a reputation as a forward-thinking leader in finance. Timur Turlov writes articles and opinion pieces on Kursiv Media, where he shares practical ideas about investing, inflation, and economic stability. His insights help both professionals and regular investors understand how to manage money wisely in today’s fast-changing world.

Why Timur Turlov’s Advice Matters

Turlov’s financial knowledge comes from years of real-world experience. He understands both local and global financial systems. On the Kursiv Media website, he shares thoughts about the Kazakh economy, smart investing methods, and ways to stay financially strong during inflation or crisis. His advice is helpful because it is simple, direct, and based on current facts.

One of the key reasons why people follow his advice is his ability to connect big ideas to everyday financial choices. For example, he explains how people and businesses can use bonds to fund growth or how long-term stock investments can protect wealth. These insights are important for anyone who wants to build a strong financial future.

Investment Tips from Timur Turlov

Turlov believes in long-term investment strategies. In one of his articles, he explains how long-term stock ownership helps people grow their money. He encourages investors to avoid chasing quick profits and instead focus on stable, reliable growth over time. He often points to the success of mature markets like the U.S. as examples of how patience and careful planning lead to better results.

Another important part of his advice is diversification. He suggests that investors should not put all their money into one place. Instead, they should invest in different sectors or instruments. This lowers risk and makes it easier to handle economic ups and downs.

Managing Inflation and Currency Risk

In today’s economy, inflation and currency risk are serious concerns. Turlov has written about how inflation can eat away at savings if people do not take smart action. He suggests using tools like inflation-linked bonds or investing in foreign currencies when needed. His focus is always on protecting the value of money over time.

He also shares ideas for governments. For example, he has written about how Kazakhstan can maintain a strong tenge (local currency) by using smart financial planning and better communication between banks and the state. These ideas show that his advice is not just for individuals but also for policy makers.

Technology and Economic Growth

Turlov also talks about the link between technology and economic development. In one article, he supported the idea of using bonds to fund the 5G rollout in Kazakhstan. He believes that investing in modern tech is not just a cost but a smart move for long-term growth. Faster internet means better business, more jobs, and higher productivity.

This shows that his financial advice is not limited to markets and money. He sees the bigger picture and encourages investment in areas that build a better future.

Financial Planning for the Modern World

The modern economy is full of change. From global inflation to new technology, there are many things to consider. Timur Turlov’s advice helps people feel more prepared. He suggests creating a clear financial plan with both short-term and long-term goals. He also talks about using reliable data and staying informed through trusted sources.

For young investors, his message is clear: start early, stay focused, and be patient. He advises them to learn the basics of finance and avoid emotional decisions. For experienced investors, he offers deeper insights into market trends, government policy, and new tools.

Conclusion

Timur Turlov offers useful and realistic advice for people who want to understand and succeed in the modern economy. His focus on long-term growth, smart investing, and future-ready planning makes his ideas both timely and trustworthy. Reading his work on Kursiv Media can help you make smarter choices and stay strong in any financial climate.

BUSINESS

How Do You Send Money to Nigeria Without Losing Out on Exchange Rates?

Published

4 weeks ago

July 17, 2025

Admin

How Do You Send Money to Nigeria Without Losing Out on Exchange Rates?

Sending money internationally can sometimes be challenging, especially when trying to ensure that your funds do not lose their value due to fluctuating exchange rates. This is particularly true when sending money to Nigeria, where the exchange rate can significantly impact how much money arrives in the local currency, Naira (NGN). This article will explore various strategies to help you send money to Nigeria without losing out on exchange rates.

Understanding Exchange Rates

Before sending money, it’s crucial to understand how exchange rates work. Exchange rates determine how much one country’s currency is worth in another country’s currency. They fluctuate due to various factors, including economic stability, inflation, and political events. When you send money to Nigeria, the amount of Naira you get for your dollars, euros, or any other currency depends on the current USD to NGN exchange rate.

Choosing the Right Money Transfer Service

Selecting the right money transfer service is one of the first steps to ensure a good exchange rate. Not all services offer the same rates or fees. Some may offer competitive exchange rates but high fees, while others might have low fees but less favorable exchange rates. It’s important to compare different services to find the best combination of rates and fees for your transfer.

Timing Your Transfer

Exchange rates fluctuate constantly, so the timing of your transfer can make a big difference in the amount of money the recipient receives. Monitor market trends and send money when the exchange rate is favorable. Various online tools and apps can help you monitor real-time exchange rates.

Sending Money in Local Currency

When sending money to Nigeria, choose to send it in the local currency (NGN) rather than in foreign currencies. This way, you avoid double conversion fees — converting your money to another major currency and Naira. Sending directly in NGN can save you money and ensure more arrives at your destination.

Use Fixed Exchange Rate Services

Some money transfer services offer fixed exchange rates. This means that you can lock in an exchange rate for a future transfer, protecting you against unfavorable market shifts. If you anticipate that the exchange rate will worsen shortly, using a service with fixed exchange rates can save you money.

Reducing Transfer Fees

In addition to getting a good exchange rate, minimizing transfer fees is crucial. Some services charge a flat fee, while others take a percentage of the transfer amount. Look for services with low or no fees to ensure more of your money makes it to Nigeria.

Consider Peer-to-Peer Transfer Services

Peer-to-peer (P2P) transfer services can offer more favorable exchange rates and lower fees than traditional banks or transfer services. P2P platforms match people looking to exchange currencies, bypassing traditional banking fees and offering more competitive rates.

Using Cryptocurrency Transfers

Cryptocurrency is becoming a popular way to send money across borders, including to Nigeria. While the cryptocurrency market can be volatile, some services allow you to convert your money to a stablecoin (a cryptocurrency pegged to a stable asset like the USD) and then send it. This method can offer low fees and competitive exchange rates.

With Western Union, “Send money from USD to NGN the way that’s convenient for you: online, with our app, or in person at an agent location.” In conclusion, sending money to Nigeria without losing out on exchange rates requires research and planning. By understanding exchange rates, choosing the right transfer service, timing your transfer wisely, and considering alternative methods like P2P services or cryptocurrency, you can ensure your money reaches its destination without unnecessary loss. Remember to regularly review your approach and stay informed about the latest trends in money transfer services and exchange rates.

BUSINESS

Breaking Barriers: Quick Loans Promoting Inclusivity and Accessibility

Published

4 weeks ago

July 17, 2025

Shahzad Masood

In recent years, the financial industry has observed a revolutionary change in the way services are provided, with a specific emphasis on making them more inclusive and accessible. A particularly instrumental factor contributing to this shift is the emergence of quick loans. As their name suggests, these loans enable users to secure funds in a relatively short time span which is essential in urgent situations. They are efficiently breaking barriers, providing a quicker, simpler, and more transparent service to a wider demographic, thereby promoting inclusivity and accessibility.

Breaking Barriers: Making Financial Assistance Accessible

The primary barrier in accessing financial services, especially loans, has historically been the prolonged paperwork and analysis. It often excluded individuals who needed instant financial aid or those without substantial credit history. The process of applying for traditional loans is cumbersome and time-consuming. However, quick loans have pushed the envelope by simplifying this process. Most providers now offer an online application process that only requires basic personal and financial information, allowing almost anyone to apply.

Fostering Inclusivity: Loans for Everyone

Another barrier within traditional lending practices is the high level of scrutiny, which in many cases leads to rejection, leaving a significant number of individuals and small businesses marginalized. By focusing on a wider range of applicant profiles, quick loans have democratized access to capital, fostering inclusivity. They are designed to provide services to a broad spectrum of society, including those with less-than-perfect credit scores, irregular income, or even those who are entirely new to borrowing.

Promoting Transparency

Quick loans providers have driven the agenda for financial transparency. They’ve eliminated hidden fees and clauses, making the entire process transparent. Applicants know exactly what they have to pay back, when, and why, taking the guesswork out of borrowing and repaying loans.

Stimulating Economic Growth

Inclusivity and accessibility in financial services have broader implications as well. By empowering a larger section of society with financial tools, quick loans have the potential to stimulate economic growth. People who were previously excluded from the mainstream financial system now have opportunities to contribute to the economy by starting small businesses, thereby promoting economic development, and reducing poverty.

Conclusion

In conclusion, the emergence of quick loans is a game-changer, redefining the lending landscape. They are successfully breaking barriers and making loans more accessible and inclusive. Though they are not without their challenges, with responsible use, they have a significant role to play in promoting financial health and economic stability in society.