Corporate social responsibility and green financing behavior in Bangladesh: Towards sustainable tourism

• Published in: Innovation and Green Development 2024-09, Vol.3 (3), p.100133, Article 100133
• Main Authors: Rahman, Md. Hasanur, Tanchangya, Tipon, Rahman, Junaid, Aktar, Most. Asikha, Majumder, Shapan Chandra
• Format: Article
• Language: English
• Subjects: Corporate social responsibility; CSR practices in Bangladesh; Green finance; Sustainability; Sustainable tourism
• ISSN: 2949-7531; 2949-7531
• DOI: 10.1016/j.igd.2024.100133

The purpose of the study is to investigate the interrelationship between corporate social responsibility (CSR) practices and green finance (GF) behavior and their collective impact on attaining sustainable tourism in Bangladesh. The study is based on a conceptual method. The relevant information is derived from different websites, publications, and research articles. The tourism industry is an emerging business industry in Bangladesh that has been gradually attracting both domestic and international tourists due to its natural and cultural heritage, diverse landscapes, and historical sites. This industry has been creating job opportunities, alleviating poverty, increasing economic growth, and helping to achieve the SDGs. However, the study found a positive impact between CSR and the adoption of green finance. It demonstrates how businesses that combine CSR practices with green finance can help Bangladesh establish a sustainable tourism industry. Moreover, the result showed that integrating CSR with green finance has encouraged sustainable tourism. In order to achieve sustainable tourism, collaboration with relevant parties has to be enhanced. An education and awareness program has to be implemented to make the business aware of the benefits of CSR practices. Tax incentives and subsidies for corporations will encourage them to engage more in green finance.