1. Green Deposits Acceptance Framework Fostering a Green Finance Ecosystem.
- Author
-
Bhatnagar, Sarita and Kaveri, V. S.
- Subjects
CLIMATE change ,ECOSYSTEMS ,SUSTAINABLE development ,SUSTAINABLE investing ,DEPOSIT insurance ,FINANCIAL institutions ,GREEN infrastructure - Abstract
Adaptation to a low-carbon economy is an endeavour of utmost importance to our country. This requires the adoption of a variety of measures in achieving net zero targets. One of the significant enablers in imbuing these measures is the availability of finance. Reserve Bank of India's 'Framework for Acceptance of Green Deposits' has provided a fillip to the evolution of a green finance ecosystem in India. Banks are considered to be instrumental as key drivers of the financial mechanisms channelizing private investments towards a green economy that is better equipped to address the unprecedented challenges posed by climate change. These guidelines will help ensure that funds are utilized for the cause of sustainability. With the concerted actions by the government, regulators, financial institutions, corporates, and individuals to nudge towards contribution to the green finance ecosystem, the net zero goal would be more attainable. The paper provides a backdrop to the imminent climate threats, regulatory interventions, key dimensions of the green deposits framework, and its implications on stakeholders. [ABSTRACT FROM AUTHOR]
- Published
- 2023