Within The Frame of Sustainable Economic Development, Green Development and Green Finance

Abstract

Excessive and improper usage of natural resources has triggered to incur environmental severe degradation at the global level. Especially in the last decade, natural disasters such as forest fires, hurricanes, and floods have occurred more frequently. Environment-friendly investments are required to reduce these kinds of disasters and obtain long-term and sustainable economic development. Because protecting the environment aims to protect humans and their welfare, it is required to follow the implementation steps of sustainable development for an environmentally friendly and healthy economy within the scope of humankind's future. The concept of green finance has been introduced to make actual this process, improve the environment by supporting more productive resource utilization, and support greener investments, such as the protection of the ecological balance, energy conservation, cleaner energies, and green buildings. Thus, green finance can serve both greener development and economic and sustainable development goals. In this context, the main aim of the current work, aside from contributing to researchers and authors in the research society, is to define the central concept concerning greener development and green finance and demonstrate relationships between these concepts and sustainability. Another aim of the study is to present green finance tools commonly used in today's world to actualize investment concerning greener development.