Abstract
Green finance covers a wide range of financial products and services, which can be broadly divided into banking, investment, and insurance products. Examples of these include green bonds, green investment funds, and climate risk insurance and constitute green finance. Green finance is central to the overall discussion on sustainability of economic growth. Rapid economic development is often achieved at the cost of environment. In this study, the authors discuss the basics of green finance: green finance policy in the public domain, best practices from throughout the world, public policy in India, India's progress and challenges in the field of environmental finance, green bonds, green finance as an effective tool for sustainability, areas covered by green finance, green banking, green insurance, benefits of green finance, limitations of green finance, the status quo of green finance in the field of renewable energy, the market mechanism of green finance, types of green financial products, the role of policies in green finance, and the impact of green bonds on environmental protection.
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