Sustainable Finance and Green Banking: Role in Achieving Viksit Bharat 2047 Goals
Publication Date : 10-03-2026
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Sustainable finance and green banking serve as foundational elements for promoting environmentally conscious growth alongside economic inclusion. India's visionary Viksit Bharat 2047 initiative seeks to elevate the nation to developed economy status by the 100th anniversary of independence in 2047. Realizing this requires channeling vast resources into renewables, resilient infrastructure, adaptation measures against climate impacts, and investments prioritizing societal benefits. Sustainable finance embeds environmental, social, and governance (ESG) principles into core financial choices, ensuring decisions balance profitability with planetary health. Green banking advances this by embedding eco-practices in daily operations, from digital-first services to loans favoring low-carbon projects. This paper explores how these mechanisms propel Viksit Bharat 2047 forward. Employing a qualitative approach with secondary sources spanning 2015-2025, including policy documents and financial metrics, it scrutinizes surges in green bonds, ESG portfolios, renewable lending, and climate-focused budgets. Results highlight India's strides in crafting a robust green finance architecture, yet underscore needs for uniform regulations, advanced risk tools, and skill enhancement across institutions. By fostering innovation and accountability, sustainable finance can bridge funding gaps, support job creation in green sectors, and align India with global net-zero trajectories, ultimately securing a prosperous, equitable future.
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