ADOPTION OF GREEN FINANCING STRATEGIES WITH RENEWABLE ENERGY RESOURCES FOR GLOBAL ECONOMIC GROWTH

Gopi Selvapandian (), Praveen Paul Jeyapaul and Balamurugan Gunabalan
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Gopi Selvapandian: Mepco School of Management Studies, Mepco Schlenk Engineering College (Autonomous) Sivakasi, Tamil Nadu, India
Praveen Paul Jeyapaul: Mepco School of Management Studies, Mepco Schlenk Engineering College (Autonomous) Sivakasi, Tamil Nadu, India
Balamurugan Gunabalan: Mepco School of Management Studies, Mepco Schlenk Engineering College (Autonomous) Sivakasi, Tamil Nadu, India

Global Economy Journal (GEJ), 2022, vol. 22, issue 04, 1-17

Abstract: Green financing is an emergent technology in recent days that supports the nature of environment with reduced carbon emissions. Also, the renewable energy sources or green resources are the most suitable options for improving the economic growth and sustainability of environment. Recently, many industrial organizations over the world were able to provide support to the deployment of green energy projects because it is less harmful to the environment and increases the financial development of country. Therefore, this paper objects to analyze the major effects of green financial strategies for developing the green energy projects. Moreover, it discussed about the recent trends of adopting green projects for ensuring the sustainability of environment with increased energy utilization. In addition to that, it examines various challenges and risks that are associated to the deployment of green financing strategy. The long-term financing, associated risks in project development, minimized return values, and lack of capacity are the major risks of green financing management systems. According to the recent reports, it is stated that the government sectors have an increased responsibility for funding the green projects to support the environment nature. Nevertheless, some of the public and private sectors in different countries are motivating the green energy projects by providing the financial support to the short-term and medium-term organizations for ensuring the sustainability of environment.

Keywords: Green financing; renewable energy sector; economic development; financial risks; industrialization; green energy projects (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1142/S2194565923500045

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