Reflections on Climate Finance in India and the Way Forward

Vimal Pant and Prachi Pathak

South Asian Journal of Macroeconomics and Public Finance, 2023, vol. 12, issue 1, 111-128

Abstract: Climate Change has acquired centre stage in all business and economic decisions globally after numerous studies have warned of its catastrophic impacts on humankind. The article is a commentary on the state of climate finance around the world and the key issues in India. It draws the latest data from credible sources to form the narrative. This analysis reflects on recent developments and trends in climate or green finance across the world as well as its impact on India. It aims at finding possible solutions to address the impediments in boosting the prospects of a vibrant green finance landscape. ESG finance has gained momentum around the world due to policy support, investor enthusiasm and innovative funding options as economic growth policies are being integrated with environmental sustainability. However, the pie is still small and a lot needs to be done to catapult it into mainstream business finance. The article also includes recommendations for rejuvenating the green finance landscape so that the market can reach its full potential for all stakeholders and help India fulfil its international commitments to reduce greenhouse gas emissions. JEL Classification: E44, E66, G1

Keywords: Green finance; climate change; ESG stocks; green bonds (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:sae:smppub:v:12:y:2023:i:1:p:111-128

DOI: 10.1177/22779787221147992

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