ARTICLE | Green Financing
Funding green initiatives for a sustainable future
A recent study by scientists from across the globe has claimed that the world has already crossed crucial tipping points in its fight against climate change. While countries have tried to introduce sustainable practices, their effect has not been substantial. The concept of green financing has now come to our rescue, showcasing a potentially green and clean future Ashley Paul | Senior Sub-Editor
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hen a government, a bank or any other organization sets apart a portion of its funds to support green, sustainable initiatives/projects,
30 July 2021 | www.urbanupdate.in
it is called green financing. The term has gained renewed importance, especially post the 2015 Paris Climate Agreement. With green financing gaining popularity, more and more cities and organisations are adopting it for promoting use of green resources.
How it can help
One of the biggest hurdles in quick adoption of green initiatives is the cost which is associated with them. It is necessary to understand that a major portion of the project which municipal corporations undertake bears heavy
