Green Finance in the MENA Region: A Systematic Literature Review

Krishna Murthy Meesaala, Syeeda Shafiya Mohammadi and S. Varalakshmi

Chapter 2 in Handbook of Banking and Finance in the MENA Region, 2024, pp 25-45 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter aims to enhance knowledge of green finance in the existing literature and to review the sustainable development activities in the Middle East and North African countries. The study has also identified the challenges of providing green finance activities around the MENA region and offers suggestions to overcome the hindrances with the help of literary evidence. Research studies revealed that green finance and its related elements are at the forefront of discussion around the world. The reason behind these extreme changes in green nature is due to political, economic, social, and environmental fluctuations, which are affected by a fiscal crisis. Researchers have used the latest methodology of PRISM 2020, which is an advanced version of PRISMA 2009, for conducting a systematic literature review by considering 10 years of literature studies between 2013 and 2022 from the Scopus Search Engine to meet the research objectives of the study. This study would help future research activities on green finance to learn from the initiatives of MENA nations to understand the practical difficulties and opportunities available in society. It has remarkable implications for academic researchers, officials making policies, and entities providing various services to practitioners in the field of green nature as it is unique in understanding the growth and development of green finance activities and its sustainable development around the MENA region. The study concluded that green finance initiatives are possible by focusing on implementing various carbon emission proposals as part of sustainable programs. Government and financial institutions must consider that green finance activities enhance sustainable financing.

Keywords: MENA; Banking Sector; Business Risk; Corporate Governance; COVID-19; Cryptocurrency; Fintech; Financial Stability; Green Finance (search for similar items in EconPapers)
JEL-codes: F3 G2 G3 (search for similar items in EconPapers)
Date: 2024
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