IDEAS home Printed from https://ideas.repec.org/a/acg/managt/v11y2023i1p51-53.html
   My bibliography  Save this article

Climate Change and Sustainability: The Role of Finance in Driving the Transition to a Greener Future

Author

Listed:
  • Dina Joseph

    (VELS University)

  • M Vetrivel

    (VELS University)

Abstract

One of the most important issues confronting mankind in the twenty-first century is climate change. These days, more people are aware of global warming and its negative effects on human existence. Change is thus necessary for survival, and ongoing efforts should be undertaken to manage the environment in a sustainable way. The necessity for quick action has increased as the effects of global warming become more obvious. The role of finance in addressing climate change goes beyond mere funding; it serves as a catalyst for sustainable development, driving innovation, incentivizing low-carbon investments, and reshaping the global economy towards a more resilient and low-carbon future. This paper highlights the pivotal role of finance in addressing climate change and highlights the transformative potential it holds for a sustainable future.

Suggested Citation

  • Dina Joseph & M Vetrivel, 2023. "Climate Change and Sustainability: The Role of Finance in Driving the Transition to a Greener Future," Shanlax International Journal of Management, Shanlax Journals, vol. 11(1), pages 51-53, July.
    • Handle: RePEc:acg:managt:v:11:y:2023:i:1:p:51-53
    DOI: 10.34293/management.v11i1.6275
    as

    Download full text from publisher

    File URL: http://www.shanlaxjournals.in/journals/index.php/management/article/view/6275
    Download Restriction: no
    File URL: http://www.shanlaxjournals.in/journals/index.php/management/article/view/6275/6030
    Download Restriction: no
    File URL: https://libkey.io/10.34293/management.v11i1.6275?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Su‐Yol Lee, 2012. "Corporate Carbon Strategies in Responding to Climate Change," Business Strategy and the Environment, Wiley Blackwell, vol. 21(1), pages 33-48, January.
    2. Emmanuel Bovari & Gäel Giraud & Florent McIsaac, 2020. "Financial impacts of climate change mitigation policies and their macroeconomic implications: a stock-flow consistent approach," Climate Policy, Taylor & Francis Journals, vol. 20(2), pages 179-198, February.
    3. Alex Bowen, 2011. "Raising climate finance to support developing country action: some economic considerations," Climate Policy, Taylor & Francis Journals, vol. 11(3), pages 1020-1036, May.
    4. Hyoungkun Park & Jong Dae Kim, 2020. "Transition towards green banking: role of financial regulators and financial institutions," Asian Journal of Sustainability and Social Responsibility, Springer, vol. 5(1), pages 1-25, December.
    5. Emmanuel Bovari & Gäel Giraud & Florent McIsaac, 2020. "Financial impacts of climate change mitigation policies and their macroeconomic implications: a stock-flow consistent approach," Climate Policy, Taylor & Francis Journals, vol. 20(2), pages 179-198, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jacques, Pierre & Delannoy, Louis & Andrieu, Baptiste & Yilmaz, Devrim & Jeanmart, Hervé & Godin, Antoine, 2023. "Assessing the economic consequences of an energy transition through a biophysical stock-flow consistent model," Ecological Economics, Elsevier, vol. 209(C).
    2. Hugo Bailly & Frédéric Mortier & Gaël Giraud, 2023. "Empirical analysis of a debt-augmented Goodwin model for the United States," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04139954, HAL.
    3. Dafermos, Yannis & Nikolaidi, Maria, 2021. "How can green differentiated capital requirements affect climate risks? A dynamic macrofinancial analysis," Journal of Financial Stability, Elsevier, vol. 54(C).
    4. Goshu Desalegn & Maria Fekete-Farkas & Anita Tangl, 2022. "The Effect of Monetary Policy and Private Investment on Green Finance: Evidence from Hungary," JRFM, MDPI, vol. 15(3), pages 1-18, March.
    5. Louis Daumas, 2021. "Should we fear transition risks - A review of the applied literature," Working Papers 2021.05, FAERE - French Association of Environmental and Resource Economists.
    6. Hugo Bailly & Frédéric Mortier & Gaël Giraud, 2023. "Empirical analysis of a debt-augmented Goodwin model for the United States," Working Papers hal-04139954, HAL.
    7. He, Pinglin & Zhang, Shuhao & Wang, Lei & Ning, Jing, 2023. "Will environmental taxes help to mitigate climate change? A comparative study based on OECD countries," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 1440-1464.
    8. Stefan Lewandowski, 2017. "Corporate Carbon and Financial Performance: The Role of Emission Reductions," Business Strategy and the Environment, Wiley Blackwell, vol. 26(8), pages 1196-1211, December.
    9. Nadine Gatzert & Philipp Reichel, 2022. "Awareness of climate risks and opportunities: empirical evidence on determinants and value from the U.S. and European insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(1), pages 5-26, January.
    10. Wanke, Peter Fernandes & Chiappetta Jabbour, Charbel José & Moreira Antunes, Jorge Junio & Lopes de Sousa Jabbour, Ana Beatriz & Roubaud, David & Sobreiro, Vinicius Amorim & Santibanez Gonzalez‬, Erne, 2021. "An original information entropy-based quantitative evaluation model for low-carbon operations in an emerging market," International Journal of Production Economics, Elsevier, vol. 234(C).
    11. Zola Berger‐Schmitz & Douglas George & Cameron Hindal & Richard Perkins & Maria Travaille, 2023. "What explains firms' net zero adoption, strategy and response?," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5583-5601, December.
    12. BAICU Claudia Gabriela, 2021. "Towards Better Involvement In Green Banking Practices: Evidence From Romania," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 13(1), pages 9-13, June.
    13. Luis Abadie & Ibon Galarraga & Dirk Rübbelke, 2013. "An analysis of the causes of the mitigation bias in international climate finance," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 18(7), pages 943-955, October.
    14. Lei Wang & Steven Li & Simon Gao, 2014. "Do Greenhouse Gas Emissions Affect Financial Performance? – an Empirical Examination of Australian Public Firms," Business Strategy and the Environment, Wiley Blackwell, vol. 23(8), pages 505-519, December.
    15. Toma, Pierluigi & Stefanelli, Valeria, 2022. "What are the banks doing in managing climate risk? Empirical evidence from a position map," Ecological Economics, Elsevier, vol. 200(C).
    16. Chien‐Ming Chen & Maria J. Montes‐Sancho, 2017. "Do Perceived Operational Impacts Affect the Portfolio of Carbon‐Abatement Technologies?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 24(3), pages 235-248, May.
    17. Stanley Kam Sing Wong, 2013. "Environmental Requirements, Knowledge Sharing and Green Innovation: Empirical Evidence from the Electronics Industry in China," Business Strategy and the Environment, Wiley Blackwell, vol. 22(5), pages 321-338, July.
    18. Simona Galletta & Sebastiano Mazzù & Valeria Naciti, 2021. "Banks' business strategy and environmental effectiveness: The monitoring role of the board of directors and the managerial incentives," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2656-2670, July.
    19. Christian Haas & Karol Kempa, 2023. "Low-Carbon Investment and Credit Rationing," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 86(1), pages 109-145, October.
    20. Matthew P. Johnson & Theresa S. Rötzel & Brigitte Frank, 2023. "Beyond conventional corporate responses to climate change towards deep decarbonization: a systematic literature review," Management Review Quarterly, Springer, vol. 73(2), pages 921-954, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:acg:managt:v:11:y:2023:i:1:p:51-53. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: S.Lakshmanan (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.