Abstract
Green growth brings about economic development and environmental enhancement simultaneously. In order to support green growth financially, the green finance sector needs to be developed.
Funding and investment mechanisms of green finance differ from those of non-green finance because green finance needs to consider environmental value in the financial activities.
Public finance plays an important but limited role in supporting green growth because a huge amount of money is needed. Therefore, the role of private finance is essential. However, under the current private financial mechanisms, the green field is difficult to invest in because the risk and return profile is different from those of traditional industries. Therefore, green finance is needed. This chapter suggests strategies for developing green finance. These strategies include improving rules and regulations of green finance to encourage green growth, establishing green financial institutions, utilizing the Green Climate Fund, designing a code of conduct in green finance, developing new green financial products, integrating a global cooperative system, and setting up infrastructure.
This is a preview of subscription content, log in via an institution to check access.
References
IPCC (2013) The fifth assessment report. Cambridge University Press, Cambridge
KEI (2012) The economics of climate change in Korea. Korea Environment Institute (KEI), Seoul
KIF (2005) SME policy financial system in major Western countries (I): US. Korea Institute of Finance (KIF), Seoul
KMA (2012) Projections of future climate change on the Korean peninsula. Korea Meteorological Administration (KMA), Seoul
Noh HJ (2010) Strategies of developing green finance. Korea Capital Market Institute (KCMI), Seoul
Noh HJ (2012) Green finance. Park Young Sa, Seoul
Noh HJ (2014a) Financial strategies to activate green company eco system. KCMI, Seoul
Noh HJ (2014b) Climate finance. Park Young Sa, Seoul
Noh HJ (2015) Social finance. Park Young Sa, Seoul
Rakić S, Mitić P (2012) Green banking: green financial products with special emphasis on retail banking products. Educons University, Sremska Kamenica
Stern N (2006) Stern review: the economics of climate change. Cambridge University Press, Cambridge
University of California, Berkeley (2017) Berkeley sustainable business and investment forum. https://responsiblebusiness.haas.berkeley.edu/events/bsbif.html. Accessed 12 Dec 2017
Yoshino N, Taghizadeh-Hesary F (2016) Optimal credit guarantee ratio for Asia. ADBI working paper 586. Asian Development Bank Institute, Tokyo. http://www.adb.org/publicationsoptimal-credit-guarantee-ratio-asia
Yoshino N, Taghizadeh-Hesary F (2017) Alternatives to bank finance: role of carbon tax and hometown investment trust funds in developing green energy projects in Asia. ADBI working paper 761. Asian Development Bank Institute, Tokyo. http://www.adb.org/publications/alternatives-bank-finance-role-carbon-tax-and-hometowninvestment-trust-funds
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 Asian Development Bank Institute
About this entry
Cite this entry
Noh, H.J. (2019). Financial Strategies to Accelerate Green Growth. In: Sachs, J., Woo , W., Yoshino, N., Taghizadeh-Hesary, F. (eds) Handbook of Green Finance. Sustainable Development . Springer, Singapore. https://doi.org/10.1007/978-981-10-8710-3_16-1
Download citation
DOI: https://doi.org/10.1007/978-981-10-8710-3_16-1
Received:
Accepted:
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-10-8710-3
Online ISBN: 978-981-10-8710-3
eBook Packages: Springer Reference HistoryReference Module Humanities and Social SciencesReference Module Humanities