Financing the Green Recovery: The New Directions of Finance After the COVID-19 Crisis

Alessandro Rizzello ()
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Alessandro Rizzello: University “Magna Græcia” of Catanzaro

Chapter Chapter 6 in Green Investing, 2022, pp 133-158 from Palgrave Macmillan

Abstract: Abstract The coronavirus disease (COVID-19) pandemic has had a global impact on lives, livelihoods, and economies. In response, governments across the world have diverted budgetary funds toward relief efforts. In order to address the negative impact of the pandemic, countries recognized the need to create longer-term economic recovery packages to address the resultant challenges. In addition, the crisis also provides a unique opportunity to address some of the structural and strategic challenges that existed even before the pandemic, yet had never received sufficient attention or resources from policymakers. Chief among these is how to deal with the challenge of climate change through the mobilization of green finance. Such a context of epochal transformation for green investing meets parallels evolution into the financial academic studies. This chapter draws from the previous chapters’ theoretical and empirical findings by providing an integrated framework that bridges together environmental sustainability and financial theory, with the green-led paradigm shifts now occurring within the financial system due to the pandemic. The results present implications useful to investigate new directions of finance, to deal with the immense issues of sustainability orientation in the post-covid recovery plans, and related opportunities to bring about change in the current financial system.

Keywords: Green Finance; Green Recovery; Post-COVID; Financial Theory (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psifcp:978-3-031-08031-9_6

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DOI: 10.1007/978-3-031-08031-9_6

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