GREEN FINANCING FOR SUSTAINABLE DEVELOPMENT IN PAKISTAN

Abstract

Green financing has emerged as a critical tool for promoting sustainable development and addressing environmental challenges. This study focuses on the state of green financing in Pakistan and the challenges and recommendations for promoting green financing in the country. The study finds that green financing has the potential to mobilize capital towards environmentally sustainable projects and reduce the country's carbon footprint. However, green financing in Pakistan faces a number of challenges, including a lack of awareness, limited private sector participation, insufficient financial support, and a lack of standardization. To address these challenges, the study recommends increasing awareness, encouraging private sector participation, providing financial support, and standardizing definitions and methodologies. The study concludes that with continued efforts and collaboration, it is possible to overcome the challenges facing green financing in Pakistan and to mobilize capital towards a more sustainable future.