Affiliation:
1. Malaviya National Institute of Technology, Jaipur, India
Abstract
The purpose of this study is to investigate how sustainable finance helps countries achieve their target of becoming a climate-neutral economy, specifically in the Asia Pacific region. First, the authors study greenhouse gas emissions worldwide and understand the need to mitigate the climate risk for the economic development of different countries in Asia. Different financial practices that exist under the domain of sustainable finance, like climate finance, green finance, ocean finance, digital green finance, impact investment, and socially responsible investment, are studied briefly to see how they help in achieving the carbon-neutral economy goal of countries. Further, a comprehensive study is conducted to understand the components of green financial systems. Different securities under green finance and the policy initiatives adopted in different Asian countries to strengthen the effects of green finance are studied. The study briefly describes the recent trends adopted by different Asian countries for achieving carbon-neutral goals.