The Role of Green Finance in the Private Sector as a Tool for a Just Transition
摘要
This chapter analyzes the role of green finance as a key tool for driving an ecological transition, given that green finance is characterized by directing resources toward initiatives that promote climate change mitigation and adaptation, energy efficiency, emissions reduction, and biodiversity conservation. Within the private sector, notable instruments include green bonds, bilateral green loans, and sustainability-linked financing, all regulated by international principles aimed at ensuring transparency and traceability. Their benefits for companies include lower interest rates, access to new sources of capital, strengthened corporate social responsibility (ESG criteria), and the ability to attract investors committed to sustainability. However, green financing faces significant challenges: the absence of a universal definition of “green” and of robust regulatory frameworks increases the risk of greenwashing; small and medium-sized enterprises encounter barriers to access due to a lack of technical capabilities; and initial costs can discourage adoption, especially in developing countries with less infrastructure for the ecological transition.