Green Finance: A Catalyst for Sustainable Growth in India

Description

Page: 83-89

Diksha and Mohit Gupta (School of Business Studies, Punjab Agricultural University, Ludhiana, Punjab)

Green finance emerges as a critical tool for tackling environmental issues and achieving sustainable development goals. This research paper delves into the realm of green finance, the essential instrument for steering economies towards sustainability. It examines the origins and definition of green finance, emphasizing its importance in aligning financial decisions with environmental goals. The paper examines a variety of green finance products, including green bonds and impact investing. It sheds light on India’s burgeoning green finance landscape by highlighting the country’s progress, initiatives, and the leading role of its banking sector. Furthermore, the paper discusses the importance of green finance in combating climate change, promoting sustainable development, and boosting economic growth. Through a comprehensive review of literature, policy frameworks, and case studies, this study aims to contribute to the discourse on green finance, while also providing actionable insights for policymakers, financial institutions, and stakeholders committed to fostering a greener, more resilient global economy.