Prospects of Green Finance for a Sustainable Future: A Critical Study

Title

Prospects of Green Finance for a Sustainable Future: A Critical Study

Creator

Joseph, Jipson

Description

Global initiatives for economic development started with the Industrial Revolution. However, it caused serious environmental issues. It necessitated to focus on ecofriendly developmental projects. Accordingly, the sustainable development paradigm has evolved to balance both environmental and developmental models. Although the UN affirmed sustainable development from 1987 onwards, its scope was elaborated with MDGs and SDGs. The declaration of SDGs in 2015 provided a framework for a global sustainable future. However, developing countries face financial hurdles in responding positively to the demands of SDGs that prioritize sustainable development and environmental protection. The OECD (2021) notes that developing countries experience 2.5 to 3.7 trillion dollars shortfall to meet the demands of SDGs. To address this complexity, developed countries, international institutions, and multinational and transnational corporations promoted green finance. From this perspective, this chapter critically evaluates the scope and functioning of green finance in light of a sustainable future. Copyright 2026, IGI Global Scientific.

Source

Utilizing Green Finance for Sustainable Development;pp.25-51

Date

01-01-2025

Publisher

IGI Global Scientific Publishing

Coverage

Joseph J., Christ University, India

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 979-833731242-2; 979-833731240-8; 979-833731241-5;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.4018/979-8-3373-1240-8.ch002

https://www.scopus.com/pages/publications/105039964614?origin=resultslist