10th November 2021 (5 Topics)
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publishes its 'Statement of Commitment to Support Greening India's Financial System NGFS'
The financial sector has a major role to play in shaping up a green and sustainable economy of the future. Elaborate. (150 Words)
Approach:
- Introduce by highlighting the importance of decarbonizing and greening the economy for attaining the goals under the Paris agreement
- Elaborate on how green financing can steer the world economy away from fossil fuels towards more sustainable alternatives
- Discuss how green financing can be scaled up and the importance of carbon tax in this regard
- Discuss the challenges that are present in the deepening of green financing
- Conclusion
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