Sustainable Finance – A New Route for Endurable Development

In the era of economic advancement the world is facing serious environmental degradation. The rapid economic development is leading towards major resource depletion and environmental damage which is impossible to be repaired. Thus, there is an urgent call to develop and implement sustainable tools in order to preserve the environment for betterment along with striving for development. In the past days, investors considered returns and risk are the only criterions for considering the investment. But, today there is a need to eye on environmental and societal issues but not just the financial returns. Sustainable finance is one such great tool for the above issues. Sustainable finance is the integration of Environmental, Social and Governmental (ESG) financial service criteria into the business or investment decisions for the long lasting advantages of client base and the society at a large. Sustainable finance acts as a bridge for development of economy with the preservation of natural resources and reducing damage of environmental depletion. Sustainable finance with its rising importance these days provides market participants an option to choose to behave in a more accountable means and carry the optimistic changes in the day to day business. The objective of this paper is to highlight the various concepts related to Sustainable finance as a new way of justifiable development. The study is mainly based on the secondary sources of information and by applying the analytical research it tries to understand the contributions towards sustainable development. The paper briefs about sustainable finance industry and the ways in which it is serving towards sustainable economic growth