Rifa. N & Ashima Mishra, Christ (Deemed to be University)
ABSTRACT
The global world is grappling with various environmental challenges, and the urgency to transition towards a more sustainable and resilient economy has never been more critical. Green finance emerges as a pivotal catalyst in this transformative journey towards sustainable development and this book chapter, titled "Green Finance: Navigating the Future of Sustainable Investment," explores the evolving landscape of green finance—a paradigm that integrates environmental, social, and governance (ESG) considerations into financial decision-making. Green Finance is a rapidly evolving field within the broader financial landscape and is at the forefront in addressing pressing environmental challenges. Green finance encompasses a range of financial instruments and strategies designed to support environmentally friendly initiatives, mitigate climate change risks, and promote sustainable development. The chapter begins by elucidating the fundamental concepts of green finance, shedding light on its origins and evolution. The key principles, frameworks, and mechanisms driving green finance, emphasizing its role in fostering a harmonious balance between economic growth, social well- being, and environmental preservation are also discussed. It explores case studies, policy initiatives, and market trends that illustrate the evolving landscape of green finance, highlighting the crucial role of financial institutions, investors, and policymakers in driving the transition towards a more sustainable and resilient global economy. The role of regulatory bodies and policy frameworks in shaping the green finance landscape is dissected, providing insights into the regulatory mechanisms that drive positive change. It touches upon the challenges and opportunities inherent in the green finance ecosystem, addressing the need for continuous innovation, education, and collaboration to overcome barriers and unlock the full potential of sustainable finance. This chapter also makes a comparative analysis on how India embraces Green Finances and with that of countries such as the United States of America and the United Kingdom. It shall include significant aspects such as Renewable energy initiatives, Green bonds, Promotion of Public-Private partnership and innovative financial mechanisms of these countries which contributes majorly towards the environmental sustainability.
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