Sustainability in Project Planning: Exploring Green Financing in Indian Development Projects

Authors

Dr Manoj Kumar Sharma

Abstract

This research paper explores the role of green financing in shaping sustainable development through infrastructure projects in India. With a growing focus on environmental sustainability, green financing mechanisms, such as green bonds and fiscal incentives, have gained traction in funding renewable energy, energy-efficient buildings, and clean transportation projects. The paper highlights the evolution of India's policy and regulatory framework for green financing, focusing on initiatives such as the National Action Plan on Climate Change (NAPCC), the Indian Green Building Council (IGBC), and various fiscal measures designed to attract both domestic and international investments. By examining the progress made up to 2016, the paper emphasizes the challenges faced in scaling green financing, including high initial costs, limited market infrastructure, and inconsistent policy implementation across states. However, it also underscores the increasing participation of both the private sector and international funding agencies in the development of green infrastructure. The future prospects of green financing in India are promising, with the potential to significantly contribute to meeting the country’s environmental and developmental goals. This paper concludes that a more integrated approach to green financing, alongside robust regulatory support, will be critical in accelerating the transition to a sustainable and low-carbon economy in India.

Keywords

Green Financing, Sustainable Development, Renewable Energy, Green Bonds, Infrastructure Projects, India, Policy Framework, Environmental Sustainability, Green Building, Climate Change.

Sustainability in Project Planning: Exploring Green Financing in Indian Development Projects. Dr Manoj Kumar Sharma. 2017. IJIRCT, Volume 3, Issue 1. Pages 1-8. https://www.ijirct.org/viewPaper.php?paperId=2502022