Role of Sustainable Finance and Environmental Social Governance Criteria in Sustainable Development Goals

ABSTRACT

In context of the financial sector decision-making process about investments, the practise of sustainable finance refers to the incorporation of ESG concerns. This is done in order to encourage a greater number of individuals to make long-term financial commitments to projects and endeavours that will have a beneficial effect on the economy. The economic systems of the globe are cooperating closely in order to achieve set goals for sustainable development. This stands in sharp contrast to tactics that were used in the past, which included governments actively seeking to improve their economies. The pursuit of economic development and progress has upset the ecological balance by hastening the depletion of natural resources and contributing to the widening of economic gaps between countries. The effects of this may already be seen in the form of changes to the climate and an increase in global temperature. Because of the current state of affairs, which endangers the very existence of mankind, it is of the utmost importance that efforts be taken to save the earth for future generations. SDG is coined to define method of advancing society that does not leave any negative impact on the natural resources of the planet for people who will live on it in the foreseeable future. This article aims to provide an explanation of the challenges that India has in its efforts to SDGs and to provide potential solutions to those challenges. India has the 2nd largest population in world after China. Whatever steps India takes toward accomplishing Sustainable Development Goals (SDGs), those steps will have far-reaching effects. If India is successful in achieving all of SDGs, it will signal that significant chunk of the rest of the world has also accomplished this goal. Therefore, India has to devise effective methods for accomplishing the SDGs and assess how well those strategies are working. It would seem that India most pressing problem is the development of suitable indicators. Researchers in India are now altering the Ibrahim index in order to establish the Indian Index for Sustainable Development. This will help to solve the issue (IISD).

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