Green Finance: A Key Initiative for Sustainable Rural Development in India

Darshan Subherwal, Anuradha Goswami

2023

Abstract

Ever since the Industrial Revolution in the 18th century, the world has observed, of late, that the cost of all industrialization has slowly and gradually resulted in climate change which is posing a great threat in the form of continuous rise in the Earth’s temperature. To mitigate the threats of climate change, it is necessary to shift economic development to the path of low carbon emissions. To oblige the commitment made by India in the Paris Agreement and to accomplish the Sustainable Development Goals (SDGs), an investment to an extent of two and a half trillion dollars will be required by India between 2015 to 2030, according to an estimate. India being an agrarian economy, the vast rural population is being adversely affected by the climate variations because the agriculture and allied sectors are climate sensitive. Therefore, it is necessary to induce the rural economy with resources, majorly financial, that results in climate change resilience and sustainable development. Green Finance refers to the financial investment in projects that promote nature friendly infrastructure and adopt climate change action plan commitments. The present study aims at knowing the green financing strategy in rural sectors, its application areas and the initiatives taken by the government in this field. The study is descriptive and based on secondary data collected from various reports of government and other agencies, research journals and research articles on websites.

Paper Citation

in Harvard Style

Subherwal D. and Goswami A. (2023). Green Finance: A Key Initiative for Sustainable Rural Development in India. In Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR; ISBN 978-989-758-687-3, SciTePress, pages 612-617. DOI: 10.5220/0012499400003792

in Bibtex Style

@conference{pamir23,
author={Darshan Subherwal and Anuradha Goswami},
title={Green Finance: A Key Initiative for Sustainable Rural Development in India},
booktitle={Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR},
year={2023},
pages={612-617},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012499400003792},
isbn={978-989-758-687-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR
TI - Green Finance: A Key Initiative for Sustainable Rural Development in India
SN - 978-989-758-687-3
AU - Subherwal D.
AU - Goswami A.
PY - 2023
SP - 612
EP - 617
DO - 10.5220/0012499400003792
PB - SciTePress