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Challenges in Mobilising Green Finance for Local Development

Author

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  • Jelena Jovovic

    (UniCA - Université Côte d'Azur, UCG - University of Montenegro)

Abstract

The need for sustainable development and the transition toward a low-carbon economy has created a significant demand for green finance. To address this issue, this chapter aims to analyse green financing mechanisms in the context of local development through an extensive review of existing green policies and their impact on enhancing the local development process. The chapter reviews the existing literature on the topic and identifies the connection between green financing mechanisms and the role of the EU in their further development. Furthermore, the chapter also analyses successful green finance initiatives in the European Union. Lastly, it presents the main challenges in mobilising green funds and proposes means to solve them. The propositions aim to provide valuable insights and guidance for policymakers, financial institutions, and local leaders seeking to accelerate the transition to a low-carbon economy and attain sustainable development goals by 2040.

Suggested Citation

  • Jelena Jovovic, 2024. "Challenges in Mobilising Green Finance for Local Development," Post-Print hal-04533947, HAL.
    • Handle: RePEc:hal:journl:hal-04533947
    DOI: 10.4335/2024.1
    as

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