Harmonizing Financial Systems for a Greener Future: Exploring Sustainable Finance Strategies in India

Harmonizing Financial Systems for a Greener Future: Exploring Sustainable Finance Strategies in India

Saravanan Vellaiyan, Swetha Loganathan, Sathish Pachiyappan, John Paul Raj V.
Copyright: © 2024 |Pages: 17
DOI: 10.4018/979-8-3693-2683-1.ch016
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Abstract

Sustainable finance represents the next biggest transformation in the financial sector to aid the process of sustainable development. Sustainable finance comprises traditional investment which provides financial profits as well as financing the projects or investments that have social, economic and governance impact. The transition from traditional investment to sustainable finance is underway in different markets at different capacities. This study seeks to examine the performance of sustainability indices representing sustainable finance in the Indian and global markets by analysing returns. It was found that sustainable finance gained significant appreciation in the Indian market. In comparing the performance of sustainability indices in developing and developed markets, there was no development divide identified. In this path towards widespread adoption of sustainable finance, data science as a field also provides promising applications for facilitating this transformation.
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2. Review Of Literature

The objectives of business enterprises are constantly evolving. It has moved from satisfaction of shareholders by way of profitability to the stakeholder satisfaction and has also come to incorporate environmental, social and governance (ESG) concerns. The reason for the shift is multi-faceted. Economic growth without considering the pollution and biodiversity degradation may not sustain in the long run (Wilson, 2010). When the business serves the on the sustainability of business based on low carbon emission, production of less greenhouse gases and cost-efficient alternative energy in the production process.

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