The topic of sustainable banking and environmental protection has become increasingly prevalent in IELTS Writing Task 2 exams, appearing approximately 3-4 times annually in recent years. This trend reflects growing global concerns about climate change and sustainable finance. Based on analysis of past exam questions, here’s a relevant task that has appeared in actual tests:
Some people believe that banks should focus solely on making profits, while others argue they have a responsibility to consider their environmental impact. Discuss both views and give your opinion.
Sustainable banking practices supporting environmental protection goals
Analysis of Question
- Topic: Role of banks in environmental protection
- Task: Discussion + Opinion
- Key elements to address:
- Profit-focused banking perspective
- Environmental responsibility view
- Personal stance with justification
Sample Essay 1 (Band 8.0)
While traditional banking has primarily focused on financial gains, there is growing debate about whether banks should expand their mission to include environmental stewardship. In my opinion, while profitability remains important, banks must integrate environmental considerations into their operations for both ethical and practical reasons.
Those who advocate for profit-focused banking argue that financial institutions’ primary duty is to shareholders and depositors. They contend that environmental initiatives could reduce returns and compromise banks’ ability to provide competitive services. Moreover, they suggest that environmental protection should be left to governmental organizations and specialized environmental agencies.
However, proponents of environmentally conscious banking present compelling counterarguments. Banks play a crucial role in funding industrial development through loans and investments, giving them significant influence over environmental outcomes. By incorporating environmental criteria into lending decisions and offering preferential rates for green projects, banks can effectively promote sustainable development. Furthermore, evidence suggests that sustainable banking practices often lead to better long-term financial performance through reduced risks and enhanced reputation.
From my perspective, banks must embrace both profitability and environmental responsibility. This dual approach is not only ethically sound but also commercially viable. By financing renewable energy projects, supporting eco-friendly businesses, and implementing sustainable operational practices, banks can contribute to environmental protection while maintaining profitable operations. Additionally, growing consumer awareness of environmental issues means that environmentally responsible banks often enjoy increased customer loyalty and market share.
In conclusion, while banking’s fundamental role in economic growth cannot be ignored, environmental considerations must be integrated into modern banking practices. This balanced approach benefits both the planet and the banks’ long-term success.
Banks implementing sustainable practices and environmental policies
Sample Essay 2 (Band 6.5)
In today’s world, there is a discussion about whether banks should only try to make money or also think about helping the environment. I think banks need to do both things.
Some people think banks should just focus on making profits. They say that banks need to make money to stay strong and help the economy grow. Also, they believe that taking care of the environment is not the main job of banks, but rather the government’s responsibility.
On the other hand, many people say banks should care about the environment. They point out that banks can help by giving loans to companies that are good for the environment and not supporting businesses that harm nature. This can make a big difference because banks have a lot of money to invest.
I believe banks should try to make money while also protecting the environment. For example, they can invest in solar power projects or give better loan rates to eco-friendly businesses. This way, they can make profit and help the environment at the same time.
In conclusion, I think banks should balance making money with environmental protection. This is good for both the banks and our planet’s future.
Analysis of Essays
Band 8.0 Essay Analysis:
- Strong cohesion and coherence
- Sophisticated vocabulary and complex structures
- Clear position throughout
- Well-developed arguments with specific examples
- Excellent paragraph organization
Band 6.5 Essay Analysis:
- Clear but simpler structure
- Basic vocabulary with some repetition
- Position stated but less sophisticated development
- Limited use of complex sentences
- Basic examples and support
Key Vocabulary to Remember:
- sustainable banking (n) /səˈsteɪnəbəl ˈbæŋkɪŋ/ – banking practices that consider environmental impact
- environmental stewardship (n) /ɪnˌvaɪrənˈmentl ˈstjuːərdʃɪp/ – responsible use and protection of nature
- preferential rates (n) /ˌprefəˈrenʃəl reɪts/ – better interest rates for certain customers
- eco-friendly (adj) /ˈiːkəʊ ˈfrendli/ – not harmful to the environment
- renewable energy (n) /rɪˈnjuːəbəl ˈenədʒi/ – energy from natural sources that replenish
Consider practicing with these related topics:
- The role of financial institutions in climate change
- Green investment strategies
- Corporate environmental responsibility
Feel free to share your practice essays in the comments section for feedback and improvement suggestions.
