International Journal For Multidisciplinary Research

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Green Finance and Sustainable Development in India: A Policy-Oriented Analysis

Author(s) Mr. Arvind Kaswan, Mr. Ramesh Kumar, Mr. Surendra Bhadu
Country India
Abstract Green finance has gained strategic importance as a policy and financial response to climate change, environmental degradation, and sustainable development imperatives. In the Indian context, the growing financing requirements for renewable energy, low-carbon infrastructure, and climate-resilient development have accelerated the adoption of green finance mechanisms. This paper analyses the progress, challenges, and future prospects of green finance in India using a secondary data-based research design. The study draws upon data and reports published by the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Ministry of Finance, Climate Bonds Initiative, World Bank, and International Energy Agency (IEA). It examines the evolution of green finance instruments in India, with particular emphasis on green bonds, green banking initiatives, ESG-linked investments, and sustainable lending practices. Trend analysis is employed to assess the growth of green bond issuances and renewable energy financing, while policy documents are analysed to evaluate the regulatory and institutional framework supporting green finance. The study identifies key challenges such as limited market depth, regulatory ambiguity, data disclosure gaps, greenwashing risks, and capacity constraints within financial institutions. The findings suggest that although India has made measurable progress in integrating sustainability considerations into its financial system, strengthening regulatory clarity, improving environmental risk disclosure, and enhancing institutional coordination are critical for scaling up green finance. The paper concludes that a well-structured green finance ecosystem can significantly contribute to India’s climate commitments, sustainable growth trajectory, and long-term financial stability.
Keywords Keywords: Green Finance; Sustainable Finance; Green Bonds; Climate Change Financing; ESG; Financial Sustainability; India
Field Sociology > Banking / Finance
Published In Volume 7, Issue 6, November-December 2025
Published On 2025-12-21
DOI https://doi.org/10.36948/ijfmr.2025.v07i06.64200
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