Regulation of Green Finance: A Need or a burden
The current climate change and environmental degradation pushed many countries to commit to reducing their carbon emissions and embracing a sustainable green economy. Admitting that finance is a powerful tool for shaping a healthy sustainable economy, governments, regulators, and central banks initi...
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2022
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| Online Access: | https://depot.sorbonne.ae/handle/20.500.12458/1550 |
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| Summary: | The current climate change and environmental degradation pushed many countries to commit to reducing their carbon emissions and embracing a sustainable green economy. Admitting that finance is a powerful tool for shaping a healthy sustainable economy, governments, regulators, and central banks initiated financial system adjustments (some of them are major reforms) to support the transition to a green economy. These adjustments introduced new concepts to financial regulation in order to support the implementation of green finance and avoid market distortion or tax evasion. On the other hand, companies, banks and financial markets are self-aware and selfcommitted to environmental issues and they are already leading the development of green finance without the need for of legislative or regulatory intervention. However, can we trust them in their commitment towards green finance? This thesis helps in clarifying the nexus between financial regulation and maintaining a green sustainable economy. In its first part, this thesis clarifies the literature on green finance. The second part assesses the evolution of the regulatory and legislative frameworks of green finance mainly in European Union. The conclusion aims to respond to the question of whether the evolution of green finance regulation represent a support or a burden to achieving a green sustainable economy, or it is still too early to decide especially after the Ukrainian war. |
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