Green Financial Development and Inclusive Growth

Joseph Nmiyine Abor () and Daniel Ofori-Sasu ()
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Joseph Nmiyine Abor: University of Ghana Business School
Daniel Ofori-Sasu: University of Ghana Business School

A chapter in Climate Change in Africa, 2026, pp 435-462 from Springer

Abstract: Abstract This chapter explores the nexus between green financial development and inclusive growth in the context of a rapidly evolving global sustainability agenda. It critically examines how green finance through instruments such as green bonds, sustainable loans, and climate funds can serve as a catalyst for economic empowerment, job creation, financial inclusion, and environmental resilience. Drawing on global policy documents and country case studies, the chapter analyzes the institutional mechanisms and regulatory frameworks that support or hinder the inclusive impact of green financial instruments. It further highlights key challenges, including regulatory fragmentation, greenwashing, and unequal access to climate finance in the Global South. The chapter argues that while green finance holds transformative potential, its inclusive outcomes depend heavily on context-specific policies, robust institutional governance, and deliberate alignment with the Sustainable Development Goals (SDGs). Recommendations are offered to enhance policy coherence, strengthen institutional capacity, and ensure that green financial flows are both environmentally sustainable and socially equitable.

Keywords: Green finance; Development; Inclusive growth; Africa (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:aaechp:978-3-032-15259-6_16

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DOI: 10.1007/978-3-032-15259-6_16

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