Green Finance and Renewable Energy Transition: A Review of Some Revolutionary Dimensions

Abstract

Green finance and renewable energy transition are pivotal in addressing climate change and fostering sustainable development. This paper explores the interconnections between green finance and renewable energy transition, highlighting their roles, benefits, challenges, and future directions. Green finance encompasses financial activities aimed at improving environmental outcomes, such as investments in renewable energy projects, energy efficiency, and pollution prevention. The renewable energy transition involves shifting from fossil fuels to renewable energy sources like solar, wind, and hydropower, which is essential for reducing greenhouse gas emissions and promoting sustainable development. This paper examines how green finance drives the renewable energy transition by providing the necessary capital for developing and deploying renewable energy technologies. It also discusses the environmental, economic, and social benefits of green finance and renewable energy transition, as well as the financial, regulatory, and technological challenges that hinder their widespread adoption. Finally, the paper outlines opportunities for advancing green finance and renewable energy transition, including innovative financing mechanisms, policy reforms, and global cooperation. By addressing these challenges and leveraging these opportunities, we can accelerate the renewable energy transition and achieve a sustainable and resilient future.