Emerging Models of Green Financing in Selected South Asian Countries
摘要
As the world grapples with the emergent need to combat climate change, South Asia has emerged as a region of critical importance. The region is home to a dynamic mix of developing economies, each with distinct characteristics and challenges. The incidence of the COVID-19 pandemic however has pushed millions in the region into lower thresholds of various development metrics besides constraining the resource potentials of the regional economies to pursue their engagements to achieve the 2030 targets of Sustainable Development Goals (SDGs). Channelling green financing, especially climate financing is an urgency on account of their emission levels, megadiverse ecosystems as carbon sinks as well as to reduce the risk to global financial stability. We assess policy measures, incentives, and regulations that have been implemented to catalyze private sector investments in renewable energy, sustainable infrastructure, and other environmentally responsible projects. Furthermore, the private sector's contribution to green financing is also a key focus of our chapter. We use a literature-based research approach to examine how businesses incorporate sustainability into their financial strategies and leverage opportunities to raise capital for green projects. The chapter will thus elucidate how South Asian businesses are aligning their operations with the principles of environmental, social, and governance (ESG) investing. This chapter offers a comprehensive exploration of the emerging models of green financing in South Asia, shedding light on the region's unique context and the various pathways toward a sustainable, and climate-resilient future. It is expected that this contribution will inspire further research, policy development, and investments in green finance in South Asia.