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Greening the Future: Mobilizing Environmental Finance for Sustainable Development in Developing Countries

Author

Listed:
  • Yeboah, Samuel
  • Boateng Prempeh, Kwadwo

Abstract

This systematic review explores the role of environmental finance in advancing sustainable development in developing countries through the implementation of green growth strategies. Environmental finance involves the allocation of financial resources to support projects aimed at mitigating environmental challenges and promoting a transition towards a greener economy. The review examines various sources of environmental finance, including public, private, and international funding mechanisms, and assesses their effectiveness in funding initiatives that address climate change, conservation, and sustainable economic growth. The study also highlights challenges and opportunities associated with mobilizing environmental finance in developing nations, emphasizing the need for innovative financing mechanisms, capacity building, and international collaboration. By analysing empirical evidence and case studies, this review contributes to a comprehensive understanding of how environmental finance can play a pivotal role in shaping the sustainable development trajectory of developing countries.

Suggested Citation

  • Yeboah, Samuel & Boateng Prempeh, Kwadwo, 2023. "Greening the Future: Mobilizing Environmental Finance for Sustainable Development in Developing Countries," MPRA Paper 118281, University Library of Munich, Germany, revised 11 Aug 2023.
    • Handle: RePEc:pra:mprapa:118281
    as

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    File URL: https://mpra.ub.uni-muenchen.de/118281/1/ENVIORNMENTAL%20FINANCE%20DRAFT%20PAPER%20FOR%20MPRA.pdf
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    References listed on IDEAS

    as
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    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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