LEGAL AND POLICY CONSIDERATIONS FOR UTILIZING GREEN FINANCE AS A TOOL FOR DRIVING THE ENERGY TRANSITION
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INTRODUCTION Growing concerns over environmental degradation and climate change have thrust sustainable development into the global spotlight. Economic expansion has led to alarming levels of harmful emissions, resource depletion, and ecological decline, resulting in rising temperatures and more frequent extreme weather events. Despite international efforts, progress towards sustainable development goals has been slow, exacerbated by a significant global investment gap of at least $2 trillion in sustainable projects between 2021 and 2023, highlighted by data from the International Renewable Energy Agency (IRENA) in 2020. The COVID-19 pandemic has further widened this gap, particularly in renewable energy investment. In response, green finance has emerged as a potential solution, attracting increasing attention. Understanding the legal and policy considerations surrounding green finance's role in driving the energy transition is essential to effectively address the urgent global challenges.
LEGAL AND POLICY CONSIDERATIONS FOR UTILIZING GREEN FINANCE AS A TOOL FOR DRIVING THE ENERGY TRANSITION
LEGAL AND POLICY CONSIDERATIONS FOR UTILIZING…
LEGAL AND POLICY CONSIDERATIONS FOR UTILIZING GREEN FINANCE AS A TOOL FOR DRIVING THE ENERGY TRANSITION
INTRODUCTION Growing concerns over environmental degradation and climate change have thrust sustainable development into the global spotlight. Economic expansion has led to alarming levels of harmful emissions, resource depletion, and ecological decline, resulting in rising temperatures and more frequent extreme weather events. Despite international efforts, progress towards sustainable development goals has been slow, exacerbated by a significant global investment gap of at least $2 trillion in sustainable projects between 2021 and 2023, highlighted by data from the International Renewable Energy Agency (IRENA) in 2020. The COVID-19 pandemic has further widened this gap, particularly in renewable energy investment. In response, green finance has emerged as a potential solution, attracting increasing attention. Understanding the legal and policy considerations surrounding green finance's role in driving the energy transition is essential to effectively address the urgent global challenges.