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Is Green Finance a Myth or a Truth?

In: Green Finance and Sustainable Development Goals

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  • Mohamed Bechir Chenguel

Abstract

The issue of addressing climate change aims to reduce greenhouse gas emissions. Green finance was created to reduce the negative impact of climate change. Green finance has used financial instruments like green bonds to finance projects for the good of the environment and the planet. After almost 10 years, with the persistence of global warming and climate change manifested by melting glaciers, droughts, and floods, all of these factors have called into question the efficiency of green finance. This chapter presents green finance and its instruments, and our contribution is to shed light on the aspects that may limit its effectiveness, such as the absence of incentives and, above all, the absence of green finance standards. In addition, we reveal that potential crises can arise in banks if they opt to finance green investments and abandon fossil fuel activities. All of these factors make the concept of green finance just an illusion.

Suggested Citation

  • Mohamed Bechir Chenguel, 2024. "Is Green Finance a Myth or a Truth?," World Scientific Book Chapters, in: Sabri Boubaker & Thai-Ha Le (ed.), Green Finance and Sustainable Development Goals, chapter 12, pages 317-335, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800614482_0012
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    More about this item

    Keywords

    Green Finance; Financial Development; ESG Performance; Climate Change; Climate-Vulnerable Asian Countries; Environmental Disclosure in Financial Institutions; Environmental; Social; and Governance Issues in Corporate Valuation; Financing Renewable Energy; Gross Ecosystem Product; Green Banking Disclosures; Climate-Related Risks; Green Banking Disclosures; Development and Impact Analysis;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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