Green Finance and Sustainable Development: An Indian Perspective
tony gholia
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Abstract
The present era of globalization has brought lot of luxury to human life but has also resulted inenvironmental degradation incorporated with all the involved activities. Today the entire economy is facing huge challenge to deal with the environmental problems and their related impacts in their day to day businesses. Today's era is threatened from the major challenges of climate change, energy constraints and financial crisis. Due to all these reasons, business organizations have started modifying their activities and strategies so as to ensure protection to our natural resources and environment. If we have to give cleaner & greener environment to our future generations, this is the time economies across the globe should take immediate preventive measures. In this context the financial sector can play an important role in promoting environmental sustainability. Sustainability is one of the most important factors driving the strategy making process of the business fraternity. In financial sector, various services that have adopted green business are banks, stock brokerage companies, credit card companies and also the companies involved in consumer finance. The concern for environmental sustainability has given mass recognition to the concept of corporate social responsibility.
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