A GLOBAL OVERVIEW OF GREEN FINANCE PRACTICES

Abstract

The efficacy of the green economy is contingent upon the presence of a robust financial system that facilitates the attraction and allocation of financial resources for the execution of environmental initiatives. Challenging endeavours within the field of ecology necessitate the facilitation of financial resources from non-budgetary channels, as well as the development and design of technologies to support these endeavours. Environmentally-friendly financial instruments are expected to boost the influx of international capital. This research investigates the challenges associated with the establishment of green funding as a foundation for achieving sustainable development. The research technique is predicated upon the fundamental principles of sustainable development and adopts a problem-oriented research approach. The study employs integration, examination, and statistical techniques. The definitions of green financing proposed by reputable international organisations such as Bloomberg, UNEP, Green Finance Study Group (GFSG), and others are utilised by the authors.