The Nexus between Green Microfinance and Triple Bottom Line Concept from the Context of a Developing Nation: A Literature Review

Abstract

In the domain of global development studies, environmental preservation, poverty eradication and energy conservation have received research attention. In recent years, these issues have also been reviewed by the microfinance scholars as ‘green microfinance’ that promotes the concern for environmental responsibility along with the social and financial objectives. This is can be related to the concerns of “people”, “planet” and “profit”, i.e. the “Triple Bottom Line” framework. With this background, this qualitative research emphasizes that green microfinance not only pursues profit, but also upholds ecological balance within businesses, resources, the environment and society. In addition to reviewing the theoretical arguments in the prevailing literature, this article encapsulates the potential benefits that lead micro-finance institutions to engage in green microfinance interventions. In this backdrop, the research provides preliminary insights and groundwork to the target audience of microfinance institutions, renewable energy policy makers and stakeholders to formulate relevant strategic options in sustaining green microfinance ventures.