Banking on green finance, looking ahead to a greener future
Green finance is no longer an axiom for the financial sector seeking to benefit from social credentials. ESG considerations have contributed to many investment decisions in recent years. Companies across sectors are taking an interest in sustainable finance with a growing push from governments to achieve climate goals.
A new study from TheCityUK and BNP Paribas showed that global green financing has grown over 100 times hitting a market value of $540.6 billion in the past decade. Signifying the way for businesses and consumers to reduce their carbon footprint without breaking the bank, green finance and sustainable finance assist businesses in the development and implementation of environmentally sustainable business practices.
Businesses, consumers and shareholders are asking for a firm commitment to environmental, social and governance (ESG) priorities. Organizations need to look beyond today’s immature regulatory guidance and sustainable investment category to develop strategies that will position them to lead as market expectations continue to rise, says Arindam Gangopadhyay, Vice President, BFSI, HCLTech.
