Green Finance and Sustainable Development in India: Current Status and Challenges Beyond the COVID-19 Period

Mita Bhattacharya and Eric Yan

Chapter 2 in Green Finance and Sustainable Development Goals, 2024, pp 31-56 from World Scientific Publishing Co. Pte. Ltd.

Abstract: A sustainable development pathway requires a significant shift in investments away from greenhouse gases, fossil fuels, and natural-resource-intensive industries and toward more renewable sources, as well as changes in business models. The financial sector will play a greater role in this movement toward sustainable, green growth. This chapter provides an overview of the need for green finance and the role of financial governance. It reviews the state of green lending and investment in India and provides an overview of the country’s green financial governance initiatives. We recommend that continued market innovations and financial assistance are necessary for achieving sustainable development.

Keywords: Green Finance; Financial Development; ESG Performance; Climate Change; Climate-Vulnerable Asian Countries; Environmental Disclosure in Financial Institutions; Environmental; Social; and Governance Issues in Corporate Valuation; Financing Renewable Energy; Gross Ecosystem Product; Green Banking Disclosures; Climate-Related Risks; Green Banking Disclosures; Development and Impact Analysis (search for similar items in EconPapers)
JEL-codes: Q01 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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