Climate change and environmental protection are challenging both policymakers and society. People are getting increasingly concerned about the careful consumption of water and energy, use of biodegradable products, and biodiversity. In these conditions, more and more companies and industries adopt “green” and “sustainable” standards in their work. The financial sector is also involved in this process. For banks and other financial institutions, green activities require adopting new approaches, strategies, and instruments. This brief discusses green banking with a special focus on the development and challenges of this industry in Belarus. It concludes by providing policy recommendations for green banking development in the country.