Green banking practices in Iraq: A qualitative phenomenological inquiry into adoption, advantages, and obstacles

This study explores the adoption, advantages, and challenges of green banking practices in Iraq through a qualitative, phenomenological inquiry. As environmental sustainability gains prominence globally, the banking sector plays a pivotal role in advancing the Sustainable Development Goals (SDGs) by integrating eco-friendly practices into financial operations. However, little is known about the extent and nature of green banking in Iraq. This research aims to investigate how Iraqi banks adopt and implement green banking, the types of green products and services they offer, the perceived benefits, and the barriers faced in this process. The study further examines how banking professionals perceive the contribution of green banking to sustainable development within the Iraqi context. Using a phenomenological research design, semi-structured interviews were conducted with ten banking professionals in Iraq, selected across three hierarchical levels: senior executives, middle managers, and specialist-level staff. This stratified approach ensures a comprehensive understanding of green banking from both strategic and operational perspectives. Thematic analysis, guided by Braun and Clarke's six-phase framework, was employed to analyze the interview data, identifying common themes and insights across participant experiences. The findings are expected to provide a nuanced understanding of green banking practices in Iraq, highlighting the factors that facilitate or hinder their adoption. The study contributes to the emerging body of literature on sustainable finance in developing countries and offers practical insights for policymakers, banking institutions, and stakeholders aiming to promote environmental responsibility in the financial sector.