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Sustainable Finance in Emerging Markets: Evolution, Challenges, and Policy Priorities

Author

Listed:
  • Rohit Goel
  • Deepali Gautam
  • Mr. Fabio M Natalucci

Abstract

Sustainable finance has become a key focus area for global investors and policy makers. Last year proved to be a breakout year for emerging markets (EMs), with sustainable debt issuance in 2021 surging to almost $200 billion. This working paper, the first comprehensive study in the literature, analyzes the evoluiton of EM sustainable finance markets, including differences with advanced economies. The analysis shows how sustainable finance in EMs is growing fast not just in aggregate but importantly across many dimensions. The paper also identifies key development areas for EMs and policies to strengthen the resilience of sustainable finance markets.

Suggested Citation

  • Rohit Goel & Deepali Gautam & Mr. Fabio M Natalucci, 2022. "Sustainable Finance in Emerging Markets: Evolution, Challenges, and Policy Priorities," IMF Working Papers 2022/182, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2022/182
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    Citations

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    Cited by:

    1. Richard Schmidt & Pinar Yesin, 2022. "The growing importance of investment funds in capital flows," Aussenwirtschaft, University of St. Gallen, School of Economics and Political Science, Swiss Institute for International Economics and Applied Economics Research, vol. 72(01), pages 1-40, December.
    2. Cunha, Daniel & Craveiro, Giovana & Rossi, Marina, 2024. "The Impact of the Creation of a Sovereign ESG Reference Yield Curve on Corporate ESG Bonds Issuances from Latin American and Caribbean," IDB Publications (Working Papers) 13452, Inter-American Development Bank.
    3. Panicker, Vidya Sukumara & Georgiadou, Elena & Hodgkinson, Ian R., 2024. "Generous to a fault: Differential impact of CSR investments on financial gains in Indian market multinationals," Journal of International Management, Elsevier, vol. 30(3).
    4. Qianyi Du & Haoran Pan & Shuang Liang & Xiaoxue Liu, 2023. "Can Green Credit Policies Accelerate the Realization of the Dual Carbon Goal in China? Examination Based on an Endogenous Financial CGE Model," IJERPH, MDPI, vol. 20(5), pages 1-26, March.
    5. Adeyemi Adebayo & Barry Ackers, 2024. "Managing Trade‐Offs Between Environmental, Social, Governance and Financial Sustainability in State‐Owned Enterprises: Insights from an Emerging Market," Australian Accounting Review, CPA Australia, vol. 34(1), pages 55-73, March.

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