Regulating Greenwashing in Green Bonds: A Comparative Study of India and South Korea

Manil Khurana (), Amrita Pankaj Satija () and Manmeet Kaur ()
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Manil Khurana: O.P. Jindal Global University, Centre for Advancing Research in Management and Law (CARML)
Amrita Pankaj Satija: O.P. Jindal Global University, Centre for Advancing Research in Management and Law (CARML)
Manmeet Kaur: O.P. Jindal Global University, Centre for Advancing Research in Management and Law (CARML)

A chapter in Business and Sustainable Development in a Globalized and Digitalized Era, 2026, pp 340-357 from Springer

Abstract: Abstract Climate change is deeply influenced by the financial sector, particularly through the growing interest in green financing. As more investors look to fund green initiatives, the system of green finance has grown significantly. This includes raising capitals through green bonds to leverage in green energy, water conservation, sustainable land use, and waste management (Lee 2020). While green bonds promote innovation, issues around transparency and accessibility remain. Moreover, the rising popularity of green bonds has led to concerns about greenwashing where projects are marketed as sustainable but lack real environmental impact. This paper compares how India and South Korea tackle greenwashing in their green bond regulatory frameworks using a qualitative comparative analysis. Both countries have taken regulatory steps, but South Korea has introduced stricter rules, including fines for greenwashing and incentives like tax breaks for genuine green projects. When used responsibly, green bonds can effectively channel funds toward meaningful climate action.

Keywords: Climate; Environment; Finance; Green bonds; Green finance; Greenwashing; India; K-Taxonomy; SEBI; South Korea (search for similar items in EconPapers)
Date: 2026
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DOI: 10.1007/978-3-032-29346-6_17

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