A Cross-Country Perspective on Initiatives and Strategies for Sustainable Green Finance in the UK and India

Abstract

Green finance is increasing its awareness and impact slowly but steadily across the globe. As it is envisioned, green financing is a regulated, organized, and well-coordinated financial activity with fine-tuned products and services, viz., loans, debt mechanisms, and investments, that's been designed to guarantee a healthier environmental result. It is expected that the green bond market possibly will be worth $2.36 trillion by 2023. To explore the receptivity of green financing and to understand its adoption among different countries, qualitative research was proposed with the support of interpretive philosophy. The green finance initiative scenarios from two countries were gathered through systematic literature review, case studies, and content analysis. Data extracted from the literature is analysed with proper coding and categorisation. The observations associated with two countries' analyses, viz., UK and India, clearly indicate that green financing is undeniably a vital approach that enables the shift to sustainable economic growth.