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Research Paper | Finance | India | Volume 10 Issue 7, July 2021 | Popularity: 4.9 / 10

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Essence of Green Finance in Driving Economic Sustainability and Adoption of Green Initiatives to Restore Ecological Sustainability - The Way Towards Green Recovery

Somrita Dey, Ayan Banerjee

Abstract: COVID-19 have taught us newer approaches towards our life, career and practices. The changes in policies and strategies have become evitable for sustainable development. Sustainable business model, investments, trade and commerce is the need of the hour. The world has witnessed several global meets and economic sustainable plans and goals in the recent past. The ongoing global problem bound the policy makers and global thinkers to rethink about some initiatives which will at one hand meet the global standards and ecological sustainability and at the other hand it must focus on climate change aspect. Thus, Green Finance and Green initiatives had gained utmost importance. The goal of green financing is to increase level of financial flows from private, public and not-for-profit sectors to sustainable development priorities. This study is descriptive in nature and has been conducted to identify the way towards green recovery. The study revealed that, there is a rapid shift towards CNG in transportation sector by 2030. The study also depicted a change in attitude of individuals and their inclination towards renewable energy sources which is definitely creating a severe need for energy transition by way of research and development in this field. Massive investment in sustainable low carbon economy is a big hurdle for developing nations. Lack of awareness and inadequate technical knowledge is hampering fund raising through green bonds.

Keywords: Green Finance, ecological sustainability, green recovery, greeninitiatives, green economy, COVID-19

Edition: Volume 10 Issue 7, July 2021

Pages: 831 - 841

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