GREEN FINANCE: A ROADMAP TO GREEN AND SUSTAINABLE ECONOMY

Abstract

The world is well known with the fact that we have a specific amount of non-renewable energy resources but still many of the Nations are dependent on those. In order to eliminate this dependency of non-renewable energy resources to those which can be e a renewable source of energy, with this the topic of green finance comes into the play. Still the implications of green finance have major challenges ahead which include problems such as technological factors, storage factors and investment factors and so on. These challenges can be improvised not only with the help of Central governments but also with the help of private sector. Along with these challenges many papers are published with more optimized solutions by which all the factors can be mobilized from an economic perspective. This paper will try to clarify more about green finance and would be able to identify the upcoming pathways that could lead the Nations towards stronger sustainability. Here the importance of green finance products such as carbon financing, green bonds, sustainability loans etc. are also explained in terms of development of green finance that different nations are adopting in order to have sustainable economies. This paper mentions not only the current challenges but also so the current status of green finance along with the recent development of Asia - Pacific region.