Transforming India's Development Trajectory with Green Finance for Sustainability

Abstract

The paper focuses on the field of green finance within the Indian context, highlighting its significance in the global environment by synthesizing a substantial body of literature. By examining the various forms of green finance, this paper offers insights into how it aids in promoting environmentally friendly production and mitigating the harmful effects of climate change. However, despite its potential, the study also identifies several barriers to green financing initiatives. The paper offers a thorough survey of the current state of research in this area, emphasizing the necessity for further academic investigation. It also shows a generally low level of understanding among the public regarding green finance and its role in climate mitigation. By suggesting solutions, the study underscores the urgent need to educate the public more effectively about climate-related issues. They also suggest that robust cross-country public–private partnerships should be encouraged to stimulate the green finance sector, which has not developed as quickly as anticipated. By promoting public-private partnerships, the study contends that a favorable environment can be established to boost green financing and enhance efforts toward achieving sustainable development. The study underscores the significance of green finance for India's sustainable development, emphasizing the necessity for further research, education, and partnerships to fully unlock its potential and address the obstacles that hinder its implementation.