Chapter 3: Green finance
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What is the relationship between money and the environment? Money is used as a means to buy, sell, produce, distribute, and invest. Money can grease the wheels of the international political economy, which generates environmental harms. Can we tackle environmental problems with money? States, as well as non-state actors like corporations, make international financial commitments to address a myriad of environmental issues. This chapter examines private sector efforts to mitigate environmental damage as well as state financing for (sustainable) development through the multilateral development banks and the Global Environment Facility. It also analyzes the more recent green funds for their role in supporting the multilateral environmental agreements, including the various mechanisms of the United Nations Framework Convention on Climate Change. The chapter highlights the research findings and theoretical insights on green financing, the gaps and emerging issues, and recommendations for future research.

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