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Fostering Green Finance for Sustainable Development in Asia

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  • Volz, Ulrich

    (Asian Development Bank Institute)

Abstract

Placing the Asian economies onto a sustainable development pathway requires an unprecedented shift in investment away from greenhouse gas, fossil fuel, and natural resource intensive industries towards more resource efficient technologies and business models. The financial sector will have to play a central role in this ‘green transformation’. This study discusses the need for greening the financial system and the role of financial governance. It reviews the state of green lending and investment in Asia and provides an overview of green financial governance initiatives across Asia. It also identifies market innovations to increase green finance in Asia, barriers to green investments, and financial policy and highlights priority areas for policy makers.

Suggested Citation

  • Volz, Ulrich, 2018. "Fostering Green Finance for Sustainable Development in Asia," ADBI Working Papers 814, Asian Development Bank Institute.
  • Handle: RePEc:ris:adbiwp:0814
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    References listed on IDEAS

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    1. Krueger, Anne O, 1990. "Government Failures in Development," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 9-23, Summer.
    2. Pierre Monnin & Alexander Barkawi, 2015. "Monetary Policy and Sustainability. The Case of Bangladesh," Discussion Notes 1501, Council on Economic Policies.
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    Cited by:

    1. Susanne Durst & Wolfgang Gerstlberger, 2020. "Financing Responsible Small- and Medium-Sized Enterprises: An International Overview of Policies and Support Programmes," Journal of Risk and Financial Management, MDPI, Open Access Journal, vol. 14(1), pages 1-23, December.
    2. Shixian Ling & Guosheng Han & Dong An & William Cannon Hunter & Hui Li, 2020. "The Impact of Green Credit Policy on Technological Innovation of Firms in Pollution-Intensive Industries: Evidence from China," Sustainability, MDPI, Open Access Journal, vol. 12(11), pages 1-16, June.
    3. Magdalena Ziolo & Beata Zofia Filipiak & Iwona Bąk & Katarzyna Cheba & Diana Mihaela Tîrca & Isabel Novo-Corti, 2019. "Finance, Sustainability and Negative Externalities. An Overview of the European Context," Sustainability, MDPI, Open Access Journal, vol. 11(15), pages 1-35, August.
    4. Nana Liu & Chuanzhe Liu & Yufei Xia & Yi Ren & Jinzhi Liang, 2020. "Examining the Coordination Between Green Finance and Green Economy Aiming for Sustainable Development: A Case Study of China," Sustainability, MDPI, Open Access Journal, vol. 12(9), pages 1-26, May.

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    More about this item

    Keywords

    green investments; green finance; sustainable development; green transformation; Asia;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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