Role and Importance of Green Financing: The Key to the Global Green Economic Future

Abstract

This research paper focuses mostly on a new and innovative financial concept known as green financing, which is now functioning as one of the most important strategies to attain economic stability together with overall sustainable growth. Because globalization is having an increasingly negative impact on the environment, it is no longer an option for industries all over the globe to achieve an overall green growth by adopting various green initiatives that allow them to achieve a climate-resilient future through both environmentalism and capitalism at the same time, rather, it is now a necessity rather than an option for them to do so. This research paper illustrates the function and relevance of green financing in not just one sector but for all other industries, which can embrace this concept in one way or another for the purpose of achieving total green growth. Despite the fact that green financing is currently a niche concept, this paper shows the role and importance of green financing in not just one industry but for all other industries. This research paper comes to a close by offering ideas that are both relevant and practical for recognizing the significance of this concept within a broader context.