Sustainable Finance in Emerging Markets: Evolution, Challenges, and Policy Priorities

Rohit Goel, Deepali Gautam and Fabio Natalucci

No 2022/182, IMF Working Papers from International Monetary Fund

Abstract: Sustainable finance has become a key focus area for global investors and policy makers. Last year proved to be a breakout year for emerging markets (EMs), with sustainable debt issuance in 2021 surging to almost $200 billion. This working paper, the first comprehensive study in the literature, analyzes the evoluiton of EM sustainable finance markets, including differences with advanced economies. The analysis shows how sustainable finance in EMs is growing fast not just in aggregate but importantly across many dimensions. The paper also identifies key development areas for EMs and policies to strengthen the resilience of sustainable finance markets.

Keywords: Sustainable Finance; Emerging Markets; Sustainability; ESG; EM ESG market; finance market; AE ESG; ESG score; ESG indices; Financial sector; Climate finance; Corporate social responsibility; Emerging and frontier financial markets; Bonds; Climate change; Global (search for similar items in EconPapers)
Pages: 29
Date: 2022-09-09
New Economics Papers: this item is included in nep-env and nep-mfd
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