Fostering Green Finance for Economic Development & Sustainability of a Nation

Abstract

Green finance is a phenomenon that combines the world of finance and business with environmentally friendly behavior.Green finance refers to theinception of sustainable development projects, environmental friendly products & policies or ethical concerns that encourage financial investment to stimulate more sustainable economy.Green lending has increased substantially over recent years as a result of efforts to boost renewable energy, sustainable agriculture, green industry & ecotourism. This paper shows the trend of the refinancing projects for green growth which reduces greenhouse gas emissions and air pollutant emissions significantly. The challenges for achieving a green transformation to a low-carbon economy are high; aligning the financial sector with sustainable development will be a key element for economy to succeed. In this paper an attempt has been made to describe green financing of commercial banks to protect human being from environmental disasters.