Perspectives by green financial instruments – a case study in the Hungarian banking sector during COVID-19

Boros, Anita ORCID:, Lentner, Csaba ORCID:, Nagy, Vitéz ORCID: and Tőzsér, Dávid (2023) Perspectives by green financial instruments – a case study in the Hungarian banking sector during COVID-19. Banks and Bank Systems, 18 (1). pp. 116-126. DOI

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Recently, the management of the green financial sector has been widely influenced by global socio-economic concerns such as the COVID-19 pandemic and the energy crisis. The purpose of this paper is to evaluate, besides their environmental attitude, what opinions and experiences the affected stakeholders have about the sustainability-related processes in the Hungarian banking sector in the early 2020s. To assess this subject extensively, two questionnaire surveys were conducted in two consecutive years (2020/2021 and 2021/2022), involving 600 and 1,600 participants randomly chosen from banking databases, respectively. The results indicate that both residential and corporate participants have various but broadening knowledge of green financial instruments. Hungarian residential customers have pointed out the inconveniences of the most popular green loan product (Green Home Program), while there appears a distinct difference in green investment preferences between the two groups of respondents. Hungarian stakeholders are quite eco-conscious, and so are banks adopting sustainability and climate risk assessment actions, however, the implementations have much potential to exploit. Respondents also identify the energy crisis-related risks, while their trust in the banking system remains high even under volatile circumstances. These findings demonstrate that the Hungarian green banking sector has a high degree of crisis resistance with residential and corporate stakeholders behind giving trust and thereby the driving force toward the successful green transition.

Item Type:Article
Uncontrolled Keywords:sustainable finance, COVID-19, green bonds and funds, green mortgage debentures
JEL classification:F65 - Economic Impacts of Globalization: Finance
G15 - International Financial Markets
G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Divisions:Institute of Data Analytics and Information Systems
ID Code:8120
Deposited By: MTMT SWORD
Deposited On:04 Apr 2023 09:55
Last Modified:05 Apr 2023 06:44

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