Abstract
Sustainable
development, is concerned with meeting the needs of present and future
generations by protecting their interests fully and separately without effecting
each other. It ultimately reflects the common belief that there is a single
earth to live, no one can be deprived of. The term “Green Finance” has come
into existence to complement Sustainable Development by taking care of economic
benefits along with environmental benefits. This paper attempts to demonstrate
the theoretical aspect of these basic components with a broad description of
their areas and applications to make it easier for the readers to get an
enhanced idea about them. Taking into consideration the necessity of Green
Finance in Sustainable Development process, some recommendations are also
provided that may help to achieve the goal more conveniently. Better
theoretical concepts in this arena through this paper can motivate researchers
to conduct diversified research from different perspectives and angles; in short
to open new doors for research.
Keywords
References
- Asian Development Bank (ADB) (2017). Southeast Asia and the Economics of Global Climate Stabilization. Available online at www.adb.org/sites/default/files/publication/177225/adb-brief-50-sea-global-climate-stabilization.pdf. Access Date: 14.07.2018.
- Berensmann K., Volz, U., Alloisio, I., Bak, C., Bhattacharya, A., Leipold, G., Schindler, H., MacDonald, L., Huifang, T., Yang, Q. (2017), Fostering sustainable global growth through green finance – what role for the G20? G20 INSIGHTS. Available online at www.sciencedirect.com
- Berensmann, K. & Lindenberg, N. (2017): Green finance across the universe, in: S. Boubaker, Cumming, D. & Nguyen D. (eds.), Ethics, ESG and Sustainable Prosperity. World Scientific Publishing, forthcoming.
- Böhnke / Eidt / Knierim / Richert / Röber / Volz (forthcoming): How to Make Green Finance Work - Empirical Evidence from Bank and Company Surveys, German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE).
- Green Finance Opportunities in ASEAN, A report prepared in collaboration between DBS and UN Environment Inquiry (2017).
- Inderst, G., Kaminker, Ch., Stewart, F. (2012). Defining and Measuring Green Investments: Implications for Institutional Investors’ Asset Allocations. OECD Working Papers on Finance, Insurance and Private Pensions, No.24, OECD Publishing. https://www.oecd.org/finance/WP_24_Defining_and_Measuring_Green_Investments.pdf
- IUCN (1980). World conservation strategy: living resource conservation for sustainable development, UICN/PNUE/WWF, Gland.
- Lindenberg, Nannette, Definition of Green Finance (April 15, 2014). DIE mimeo, 2014. Available at SSRN: https://ssrn.com/abstract=2446496
- Opportunities in Green Finance (2009), “Natural Resource Management Centre”, National Bank for Agriculture and Rural Development, Kolkata.
- Otoritas Jasa Keuangan (2014). 2015-2019 – Roadmap Keuangan Berkelanjutan di Indonesia / Roadmap for Sustainable Finance in Indonesia, OJK.
- People’s Bank of China. UNEP Inquiry (2015). Establishing China’s Green Financial System. Theoretical Framework of Green Finance http://unepinquiry.org/wp-content/uploads/2015/04/ECGFS_Background_Paper_A_Theoretical_ Framework.pdf
- Schaefer, (2011), Green Finance An Innovative Approach to Fostering Sustainable Economic Development and Adaptation to Climate Change, Th e Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
- Tasnim C., Rajib D. and Haradhan M. (2013), Green finance is essential for economic development and sustainability. International Journal Of Research In Commerce, Economics & Management. Online at http://mpra.ub.uni-muenchen.de/51169/
- Towards A Green Finance Framework, European Banking Federation. Available online at https://www.ebf.eu/wp-content/uploads/2017/09/Geen-finance-complete.pdf. Access Date: 09.05.2018.
- Wang, Y. & Zhi,Q. (2016), “The role of green finance in environmental protection: Two aspects of market mechanism and policies”, CUE2016-Applied Energy Symposium and Forum 2016: Low carbon cities & urban energy systems.
- World Commission on Environment and Development (WCED). (1987). Our common future. Oxford: Oxford University Press.
- http://unepinquiry.org/wp-content/uploads/2015/10/Roadmap-OJK-2015-2019. pdf
- http://unepinquiry.org/wp-content/uploads/2016/05/Green_Finance_and_Non-G20_Developing_Countries.pdf
- http://www.g20-insights.org/wp-content/uploads/2017/04/Climate_Green-Finance_V2.pdf
- http://www.iisd.org/topic/sustainable-development
Abstract
Sustainable
development, is concerned with meeting the needs of present and future
generations by protecting their interests fully and separately without effecting
each other. It ultimately reflects the common belief that there is a single
earth to live, no one can be deprived of. The term “Green Finance” has come
into existence to complement Sustainable Development by taking care of economic
benefits along with environmental benefits. This paper attempts to demonstrate
the theoretical aspect of these basic components with a broad description of
their areas and applications to make it easier for the readers to get an
enhanced idea about them. Taking into consideration the necessity of Green
Finance in Sustainable Development process, some recommendations are also
provided that may help to achieve the goal more conveniently. Better
theoretical concepts in this arena through this paper can motivate researchers
to conduct diversified research from different perspectives and angles; in short
to open new doors for research.
Keywords
References
- Asian Development Bank (ADB) (2017). Southeast Asia and the Economics of Global Climate Stabilization. Available online at www.adb.org/sites/default/files/publication/177225/adb-brief-50-sea-global-climate-stabilization.pdf. Access Date: 14.07.2018.
- Berensmann K., Volz, U., Alloisio, I., Bak, C., Bhattacharya, A., Leipold, G., Schindler, H., MacDonald, L., Huifang, T., Yang, Q. (2017), Fostering sustainable global growth through green finance – what role for the G20? G20 INSIGHTS. Available online at www.sciencedirect.com
- Berensmann, K. & Lindenberg, N. (2017): Green finance across the universe, in: S. Boubaker, Cumming, D. & Nguyen D. (eds.), Ethics, ESG and Sustainable Prosperity. World Scientific Publishing, forthcoming.
- Böhnke / Eidt / Knierim / Richert / Röber / Volz (forthcoming): How to Make Green Finance Work - Empirical Evidence from Bank and Company Surveys, German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE).
- Green Finance Opportunities in ASEAN, A report prepared in collaboration between DBS and UN Environment Inquiry (2017).
- Inderst, G., Kaminker, Ch., Stewart, F. (2012). Defining and Measuring Green Investments: Implications for Institutional Investors’ Asset Allocations. OECD Working Papers on Finance, Insurance and Private Pensions, No.24, OECD Publishing. https://www.oecd.org/finance/WP_24_Defining_and_Measuring_Green_Investments.pdf
- IUCN (1980). World conservation strategy: living resource conservation for sustainable development, UICN/PNUE/WWF, Gland.
- Lindenberg, Nannette, Definition of Green Finance (April 15, 2014). DIE mimeo, 2014. Available at SSRN: https://ssrn.com/abstract=2446496
- Opportunities in Green Finance (2009), “Natural Resource Management Centre”, National Bank for Agriculture and Rural Development, Kolkata.
- Otoritas Jasa Keuangan (2014). 2015-2019 – Roadmap Keuangan Berkelanjutan di Indonesia / Roadmap for Sustainable Finance in Indonesia, OJK.
- People’s Bank of China. UNEP Inquiry (2015). Establishing China’s Green Financial System. Theoretical Framework of Green Finance http://unepinquiry.org/wp-content/uploads/2015/04/ECGFS_Background_Paper_A_Theoretical_ Framework.pdf
- Schaefer, (2011), Green Finance An Innovative Approach to Fostering Sustainable Economic Development and Adaptation to Climate Change, Th e Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
- Tasnim C., Rajib D. and Haradhan M. (2013), Green finance is essential for economic development and sustainability. International Journal Of Research In Commerce, Economics & Management. Online at http://mpra.ub.uni-muenchen.de/51169/
- Towards A Green Finance Framework, European Banking Federation. Available online at https://www.ebf.eu/wp-content/uploads/2017/09/Geen-finance-complete.pdf. Access Date: 09.05.2018.
- Wang, Y. & Zhi,Q. (2016), “The role of green finance in environmental protection: Two aspects of market mechanism and policies”, CUE2016-Applied Energy Symposium and Forum 2016: Low carbon cities & urban energy systems.
- World Commission on Environment and Development (WCED). (1987). Our common future. Oxford: Oxford University Press.
- http://unepinquiry.org/wp-content/uploads/2015/10/Roadmap-OJK-2015-2019. pdf
- http://unepinquiry.org/wp-content/uploads/2016/05/Green_Finance_and_Non-G20_Developing_Countries.pdf
- http://www.g20-insights.org/wp-content/uploads/2017/04/Climate_Green-Finance_V2.pdf
- http://www.iisd.org/topic/sustainable-development
Details
| Primary Language | English |
|---|---|
| Journal Section | Makaleler |
| Authors | |
| Publication Date | January 30, 2019 |
| Published in Issue | Year 2019 Volume: 6 Issue: 1 |