GREEN FINANCE: A WAY TO FOSTER SUSTAINABLE DEVELOPMENT IN AN EMERGING COUNTRY
DOI:
https://doi.org/10.46545/aijefr.v7i1.318Keywords:
Green Finance, Environmental Issues, Sustainable Development, Emerging Country.Abstract
Bangladesh, as a densely populated nation in South Asia, faces numerous ecological concerns encompassing climate change, destruction of forests, and pollution of the air, and insufficient waste management, which ultimately obstruct the achievement of sustainable development. Minimizing the adverse environmental repercussions of economic activities necessitates significant financial commitment. Green financing is a form of financial support for environmentally sustainable initiatives through grants, debt, and equity instruments. This research aims to investigate the influence of green finance on sustainable development in an emerging nation and strategies to enhance its facilitation for the successful attainment of SD. This study employs a qualitative approach where several research papers, Sustainability analyses of Bangladesh Bank (BB), and various published documents of BB have been reviewed. The results reveal that numerous measures for green finance exist, including green credit, green investment, and carbon emissions, all of which have a significant beneficial impact on sustainable development. This study's findings suggest that the promotion of green financing is able to tackle Bangladesh’s environmental issues while simultaneously stimulating sustainable growth and enhancing the well-being of its populace. For regulators and lawmakers seeking to promote sustainable growth in developing countries, the study's results provide vital insights.
JEL Classification Codes: F64, F65.
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