Examining the Relationship of Green Finance, Family Economics and Sustainable Development: A Review
##plugins.themes.academic_pro.article.sidebar##
##plugins.themes.academic_pro.article.main##
Abstract
Green finance has emerged as a pivotal mechanism for driving sustainable development, with its potential to influence household-level economic activities gaining increasing scholarly and policy attention. This study explores the intricate relationship between green finance, the household economy, and sustainable development, proposing a conceptual framework that integrates these dimensions. Green finance, encompassing financial instruments and investments aimed at supporting environmental sustainability, has the potential to reshape household economic behaviors by incentivizing energy-efficient consumption, renewable energy adoption, and sustainable investment practices. At the same time, households play a critical role in the broader transition toward sustainable development, as they are both key economic units and primary consumers of resources.
This study examines how green financial tools and activities for sustainable practices interact with household decision-making processes. Specifically, it investigates the extent to which green finance can mitigate economic and environmental trade-offs faced by households while fostering sustainable development outcomes, such as reduced carbon footprints, enhanced financial inclusion, and improved social well-being. Additionally, the study delves into the barriers that hinder the effective utilization of green finance at the household level, including issues of accessibility, awareness, and affordability
##plugins.themes.academic_pro.article.details##
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
References
- Boyle, M., & Kiel, K. (2001). A survey of house price hedonic studies of the impact of environmental externalities. Journal of Real Estate Literature, 9(2), 117–144.
- Browning, M., Chiappori, P. A., & Weiss, Y. (2011). Family economics. Cambridge University Press.
- Chaudhary, R., & Bhattacharya, V. (2006). Clean development mechanism: Strategy for sustainability and economic growth. Indian Journal for Environmental Management.
- Division of the Hong Kong Institution of Engineers. (2017). Environmental brief on green finance.
- Defining Green Products. (2010). Air Quality Sciences, Inc. Atlanta, GA.
- Diaz, J., Hansz, J., Cypher, M., & Hayunga, D. (2008). The effects of conservation status on residential property values. Journal of Real Estate Research, 30(2), 225–247.
- Banga, J. (2018). The green bond market: A potential source of climate finance for developing countries. United Nations Conference on Trade and Development (UNCTAD).
- Netto, M. I. (2010). Green financial products and services. Joseph’s Degree and P.G. College.
- Natural Resource Management Centre. (2009). Opportunities in green finance. National Bank for Agriculture and Rural Development (NABARD), Kolkata, India.
- Pollak, R. A. (2003). Gary Becker's contributions to family and household economics. Review of Economics of the Household, 1(1–2), 111–141.
- Shahzad, U. (2015). The need for renewable energy sources. Riphah International University, Faisalabad, Pakistan.
- Sharif, M., & Kaushal, V. K. (2018). Green finance: A step toward sustainable development. Himachal Pradesh University.
- Thompson, N. E., Harden, A. J., Clauss, B., Fox, W. S., & Wild, P. (2012). Key concepts of environmental sustainability in family and consumer sciences. Journal of Family & Consumer Sciences, 104(1), 5–12.
- Waitt, G., Caputi, P., Gibson, C., Farbotko, C., Head, L., Gill, N., & Stanes, E. (2012). Sustainable household capability: Which households are doing the work of environmental sustainability? Australian Geographer, 43(1), 51–74.