Meanwhile, giving these eco-friendly initiatives a boost are government schemes like a newly minted one in South Korea that will offer "green credits" for consumers who embrace a low-carbon lifestyle. According to a new policy plan announced by the Ministry of Environment in January 2011, citizens who use green credit cards to buy eco-friendly products, or live green in ways like taking public transport would be rewarded with credits that can be redeemed for cash or used to lower utility bills. South Korea's national government advocating a green lifestyle can only mean that more of their domestic banks would get into the act.
What are your thoughts on the success of banks in integrating green incentives into mainstream banking? Are these mere flash-in-the-pan, or sustainable propositions? How can these environmentally-themed financial products remain financially viable in the long run?
To find out what else we have to say about this topic, have a quick read of our Perspective document: "New Frontiers in Green Revenue Generation" at: http://www.idc-fi.com/getdoc.jsp?containerId=FIN226459.