SUSTAINABLE FINANCE IN GLOBAL GOVERNANCE: CHALLENGES AND STRATEGIES FOR GREEN PROJECT FINANCING
Keywords:
Sustainable finance, green projects, global governance, green sukuk, blended finance, green bondsAbstract
This study aims to analyze the challenges and strategies of green project financing within the framework of sustainable finance at the global governance level. A qualitative approach with case studies was chosen to understand the dynamics of green project financing in five developing countries—Indonesia, Brazil, Kenya, India, and Vietnam—representing a variety of financing strategies such as green sukuk, blended finance, green bonds, and climate funds. The results of the study show that the success of green financing is highly dependent on the synergy between domestic policies, institutional support, and the involvement of international actors. However, its implementation still faces obstacles in the form of limited data, technical capacity, inequality in access to finance, and the lack of a globally standardized monitoring system. These findings reinforce the importance of reforming global financial governance to be more inclusive, transparent, and adaptive to the needs of developing countries. This study provides conceptual and practical contributions to the development of fair and effective sustainable financing policies in facing the challenges of climate change.
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