The Challenges For SMEs In Green Finance Initiatives Adoption

Abstract

In the present scenario Green Economy can transform the entire functionality of the Indian economy. It is the only thing which can help in sustainable development of the country. For greening the economy green finance is required. SMEs need to adopt the Green Finance Initiatives(GFIs) for turning their operations green i.e. containing the harmful impact on the environment. Green finance initiatives promote green investments in the economy, means the investments which reduces the harmful effect on the environment and promoted sustainable development. Government, business, and financial institutions all need to consider and act in ways that will help the SME sector become more environmentally friendly. The paper attempts to identify various barriers and challenges in the adoption of GFIs.