An Imperative on Green Financing in the Perspective of Nepal

Green finance is part of a broader occurrence; from the incorporation of various non-financial or ethical concerns onto the financial universe. Generally green finance is considered as the financial support for green growth which reduces greenhouse gas emissions and air pollutant emissions significantly. Green finance in agriculture, green buildings and other green projects should increase for the economic development of the country. In this paper an attempt has been made to describe green financing in a boarder sense.

In present times of technological progress the worldwide economy is undermined from three major challenges: environmental change, vitality limitations and money related emergency. This is on account of financial improvement conveys alongside itself expenses to the countries in the shape of environmental degradation. Green finance is the solution for accomplishing contract between the economy and nature. Green finance is considered as the monetary help for green development, which decreases ozone depleting substance discharges and air contamination emanations altogether. Green fund in horticulture, green structures, green security and other green activities should increase for the monetary improvement of the nation. In this paper an endeavour has been made to explore the existing literature on the green finance and future scope of green finance in India.

Shodh Sanchar Bulletin, 2020

Green Finance includes all initiatives taken by private and public banks, businesses and international organizations in developing, promoting, implementing and supporting projects with sustainable impacts through financial instruments. Green finance represents the future of financial sector through innovative financial mechanisms. This paper is written in a simple language to make everyone understand What is Green Finance? It concentrates on the evolution and concept of green finance, global impact and challenges and green finance during COVID-19. This is a Descriptive study carried only with secondary source of data. Finance is an Ocean and Green Finance is a little drop of an Ocean.

Imagine we, the people are in a queue in front of a retail shop, are to purchase a packet of fresh air. This imagination is not so far away to turn into a reality if the trend of environmental pollution is going on as it is in present. It was really amazing to us to see that a single bottle of British fresh air sold to Chinese buyers at $115. The Beijing authority announced red alert for several times to curb the city's notorious smog, a CNN report says in early of 2016. Beijing city government has issued a red alert for severely high levels of air pollution in the city for five days from December 17 to 21, 2016, as UK based newspaper The Independent says. Delhi's chief minister instructed to shut all schools in the Indian capital for three days as its citizen was struggling with choking smog in early November, 2016, as a BBC report says. Taking the environment pollution and climate change of the world into consideration what comes to our mind as the causes?-obviously first one is the concept of one-eyed way of development of the world. As we see, the main reasons of pollutions in our surroundings are – the road constructions are being ran using environment-unfriendly materials, thousands of motorized transportations are moving around which use fossil fuel and create a huge air and sound pollution, industries which create air pollution using natural fuel and emitting heavy black smoke and make water pollution through discharging industrial waste containing harmful chemicals in the rivers and water bodies, radioactive pollution due to malfunctions or improper disposal of the waste of nuclear plant, agricultural activities using pesticides and fertilizers which are made from harmful chemical substances, even making of residence for man destroying wildlife and forest, etc. Bangladesh, obviously, is not out of this list of environmentally polluted countries in the world. A World Bank's report says that Dhaka ranks highly amongst the world's major cities in terms of poor urban air quality. The report also says that county's two biggest polluters are brickfields and transport. Bricks kilns and motor vehicles contribute to 60% of fine particulate pollution in Dhaka during dry season. Rapid and unplanned industrialization is another major cause of pollution in Bangladesh. The worst example of water pollution may be the severe pollution of rivers around Dhaka city due to industries sprouted on the river bank. Chemical waste of tannery and dying factories of garments are thrown in the rivers turning these absolutely pollution. Oil spills of boats and different water vessel is also a reason for water pollution. The ship-breaking, a government declared emerging industry, is also becoming a source of threat for environment day by day through dumping explosive or inflammable gases in the coastal area particularly in Sitakundu, Chittagong. In Dhaka there are around 5,000 brick fields in operation, producing about 11 billion bricks per year. Brickfields in Bangladesh expel over 9.8 million tons of greenhouse gases into the air annually due to a combination of old technology, weak environmental legislation and enforcement and lack of corporate responsibility, WB study says. The most important fact is, to think, how long will we survive in the world making development without considering the environmental pollution? No, surely not forever. Then what can we do? Green finance concept can be a great avenue to reduce pollution and save the earth-the only place for man to live in aiding sustainable economic growth. Niklas Höhne and others, in 2012, defines green finance as a broad term that can be referred to financial investments flowing into sustainable development projects and initiatives, environmental products, and policies that encourage the development of a more sustainable economy. Green finance includes climate finance but is not limited to it. It also refers to a wider range of other environmental objectives, for example industrial pollution control, water sanitation, or biodiversity protection.

International Journal of Green Economics, 2022

This paper reviews the existing research on green finance. It identifies the important themes in the green finance literature, particularly, the strategies to increase green financing; efforts to make green investment profitable; promoting green financing using technology and policy, the role of regulators and financial institutions in the green finance agenda, and the challenges of green financing. Several crosscountry observations about the challenges of green finance and solutions to green finance issues are documented. The findings show that green finance has the potential to make a significant difference in the environment, society and for climate change mitigation, but many challenges abound such as the lack of awareness about green finance, inconsistent definitions of green finance, lack of policy coordination for green financing, inconsistent policies, and lack of profitable incentives to investors and financial institutions who are willing to invest in climate change mitigation.

2019

Sustainable development, is concerned with meeting the needs of present and future generations by protecting their interests fully and separately without effecting each other. It ultimately reflects the common belief that there is a single earth to live, no one can be deprived of. The term “Green Finance” has come into existence to complement Sustainable Development by taking care of economic benefits along with environmental benefits. This paper attempts to demonstrate the theoretical aspect of these basic components with a broad description of their areas and applications to make it easier for the readers to get an enhanced idea about them. Taking into consideration the necessity of Green Finance in Sustainable Development process, some recommendations are also provided that may help to achieve the goal more conveniently. Better theoretical concepts in this arena through this paper can motivate researchers to conduct diversified research from different perspectives and angles; in ...

IJARCSMS, 2024

Through its positive effects on the environment, green finance is essential to promote inclusive, resilient, and cleaner economic growth. It facilitates the flow of funds toward sustainable development initiatives from the governmental, corporate, and nonprofit sectors. UN Environment has been striving to coordinate national financial systems to direct money flows towards achieving the 2030 Sustainable Development Goals, realizing the importance of green financing. To foster sustainable economic growth, India must also adopt a national green finance plan. By 2040, financing for green infrastructure would need to reach over $4.5 trillion. The involvement of banks and other entities from the public and private sectors will be essential to the financing of green projects. Therefore, the primary focus of this study is on the numerous green finance efforts implemented by Indian banks and organizations in the public and private sectors. The report outlines the several obstacles that India has when it comes to green financing and offers suggestions for how to overcome them. This descriptive analysis draws upon secondary data from a variety of official publications released by the Indian government as well as reports from Indian banks, public and private sector organisations, and other sources. The study also looks at impact investment, which allows investors to forego higher financial returns in exchange for non-financial advantages in the field of green finance. It emphasizes how important institutional ownership is in directing businesses towards improved social and environmental performance. Furthermore, sustainable finance depends on the inclusion of environmental, social, and governance (ESG) considerations in investment choices. The review addresses the relationship between risk management and climate change and emphasizes how environmental hazards affect financial decision-making. The article also examines the possibility of impact investment, in which investors accept lower financial returns in exchange for non-financial advantages in the field of green finance. The analysis addresses how environmental hazards affect financial decision-making and how they connect with climate change and risk management.

International Journal Management Science and Humanities, 2020

Overview: With the evolving financial instruments and financial needs, innovative instruments and financial tools are always in need. Green finance helps in addressing the financial need for the issue of 'need for sustainable development' as put forward by the UN millennium goals. Purpose: The purpose of this paper is to pool all relevant literature concerning the concept of green finance, its implication around the world, initiatives taken by governments and the banking sector, understanding the adaptation of green finance through various case studies and giving an emphasis on Indian scenario for its scope and potential for developing green finance. Approach of the study: A complete search for all relevant literature from recognised and listed journals, UN newsletters and government official websites. Content analysis and word cloud also used as a part of qualitative analysis Findings: Green finance is found to be at an initial stage in most of the countries. Different financial products and agreements are introduced but it constitutes only 1 per cent of the world finance available. Various development institutions give stress to lending loans and assisting green finance projects. Of all the countries China has made the remarkable progress in the field of green finance. Being an upcoming source of finance green finance also faces various challenges in implementation, transition, availability to the common public etc.

The main objective of this paper is to study the concept of green finance and authenticate whether this concept is workable in India for balancing the ecological depreciation due to assimilation of carbon gases in atmosphere. Concept of green finance can be regarded as innovative in the field of finance. Green finance is considered as the financial provision for green growth which decreases greenhouse gas emissions and air pollutant. Green finance in agriculture, green buildings and other green projects should add to the economic development of the country. In this paper sincere attempt has been made to describe green financing in a broader sense.

International Journal of Advanced Research in Science, Communication and Technology, 2024

In the modern world the ever increasing adverse climate changes has been a great concern for the governments of the various countries of the world which has caused them and various other organisations to specifically concentrate on reducing the greenhouse gas emissions . Green Finance goes on to play an important role in promoting or financing those type of industries which are energy efficient and also has low carbon emissions which in turn can go on to develop the green economy of a country . Therefore Green Finance can be described as those type of financial activities or services which are created and implemented to ensure a better environmental surroundings by financing in those types of projects which deals with industrial pollution control , biodiversity protection , energy efficiency , renewable energy , etc , etc . In this paper we have tried to study the importance of introducing various green financing methods , techniques and mechanisms among various countries of the modern world with a reference to modern day India and the data needed for such research work has been basically collected through both primary and various other secondary methods of collections .