Does the green finance initiatives transform the world into a green economy? A study of green bond issuing countries.

Green finance initiatives have received global support in modern times, relatively in response to safeguard the environment and preserve natural resources through channelizing the investments to create a green economy. This paper attempts to evaluate and compare the green finance growth in green bond issuing nations across the world. This study also assesses the effect of green finance growth on the dependence of non-renewable energy resources especially fossil fuels that have been creating several environmental issues for the past years. This study develops a pressure-state-response framework to evaluate the comprehensive system of green finance growth that depicts the interaction of sub-aspects. We employ the entropy technique to calculate the weights at each level within the evaluation system. We also constructed empirical models to assess the relationship between green finance growth and dependence on fossil fuel consumption and found that there exists a negative relationship between the two. The results convey that proliferation of green finance instruments can reduce the dependence on fossil fuels and smoothen the transition towards a carbon negative world.

An assessment of socioeconomic impact of COVID-19 pandemic in India.

Coronavirus (COVID-19) pandemic has created an unprecedented loss and disruptions over all across the world. From developed to developing, no country has been spared from its brunt. In this paper, we have analyzed the implications of COVID-19 on the economy and society of India so far. An impact assessment on the basis of available lietrature is made on all the three sectors-primary, secondary and service sector along with the impact on migrants, health, poverty, job losses, informal sector, environment, and so forth. The all sectors of the economy has been disproportionately affected and even within a sector, there is a disproportionate loss. The societal impacts are dire too with job losses, mental illness, increased domestic violence, and so forth. Some positive effects can be seen in terms of improved air quality, water quality, wildlife but the sustainability of such impact is conditional upon post-COVID and people's habits and future policies related to the environment.