Page 35 - Banking Finance April 2021

ARTICLE

GREEN

FINANCING: THE

SUSTAINABLE

WAY OF

DEVELOPMENT

A s the world was witnessing environmental sustainable growth. In other words, it combines

opportunities for economic growth as well as reaping
degradation due to rapid industrialization and
environmental benefits, simultaneously. Green Finance had
infrastructure growth, global leaders met on a
global platform for evolving innovative ways for
countries had committed towards fighting climate change
environment protection, without compromising on the gained popularity after the Paris Climate Agreement, when
economy. At this point, Green Finance was brought into but faced a parallel challenge to achieve a sustained
existence. economic growth. Green Finance includes various financial
products and services (viz. green bonds, green loans, green
Green Finance is an integration of finance and innovation insurance, etc.) focused towards creating a positive befalling
towards those products that lead to an environmentally impact on the environment.

About the author According to the United Nations Environment Programme,
Green Financing can be promoted inter alia through changes
in countries' regulatory frameworks, harmonizing public
financial incentives, increase in investment in clean and
green technologies, etc.

With an aim to reduce the carbon footprint, and keeping in
consonance with the Paris Climate Agreement, countries are
Nand Gopal Anand Harshit Dusad Vrindesh Patel now developing strategies and policies for encouraging Green
Equity Partner Senior Associate Associate Finance. This is being achieved by redirecting capital flows to
Juris Corp Juris Corp Juris Corp environmentally responsible projects and technologies.

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