Green Finance Concept: Framework and Consumerism
Sustainability has begun to receive more attention from the international community as a crucial pillar for economic growth and an active driver for protection of the environment. Therefore, financial institutions have become more aware of their responsibility to contribute to sustainable development. To fulfill this responsibility, several financial institutions have adopted the concept of green finance. This research consists in outlining the green finance concept and assessing the level of knowledge and awareness among consumers about green finance products and services via an exploratory analysis. The main findings of this research are that most of the respondents were aware of environmental problems, however many of them had limited knowledge about sustainability and remarkably no knowledge about green finance. Moreover, despite the green finance concept facing big challenges related to data protection and security maintenance, it has several opportunities to be improved and widely applied.
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