Green Finance Strategic and Sustainable Development: An Empirical Study
Abstract
Sustainability in organization has become an interest to organization in this 21st century. This enables the organization to live for more years that short term performance. Organizations are concerned with both short-term and long-term performance. The paper investigates the impact of green finance management on sustainable future business development. Sustainable resource theory as well as resource based view theory was adopted with resource for competitive advantages as well as sustainable development. Sustainable resources theory explains the important of resource that have long term gain for future development. Green finance strategic management has been supported by the theories since it enables organization to be sustainable as well as competitive in the turbulent business environment. A desk review of existing literature indicated that green finance strategic management is modern approach to dynamic macro-environment that has significantly affected organization. According to the finding green finance strategy is a rising concept that is concern with ensuring a sustainable finance planning that would ensure that sustainable development. Green finance strategic management approach would enable reduction of environmental degradation, cost reduction, clean energy, new job opportunity, reuse and recycling of materials and manageable future development. The study recommended that firms should adopt green finance in managing finance by purchasing as well as developing products, processes and resource that have long term utility and environmental friendly. Future recommendation of studies to conducted in green strategic management and performance of organization.
Key terms: Green Finance, Green Strategic Management, Sustainable Development.
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