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