RELATIONSHIP BETWEEN SUSTAINABLE DEVELOPMENT AND GREEN ECONOMY - EMPHASIS ON GREEN FINANCE AND BANKING

  • Olja Munitlak-Ivanović, PhD Institute of Economic Sciences, Belgrade
  • Jovan Zubović, PhD Institute of Economic Sciences, Belgrade
  • Petar Mitić, PhD Institute of Economic Sciences, Belgrade

Abstract

In this paper authors review the issue of relationship between economy, society and environmental protection. This could not be done without the three sustainability principles being incorporated in the concept of sustainable development and later in the concept of green economy. Many defnitions of both concepts refer to the fact that these relationships are complex, as economic well-being and environmental protection cannot “reconcile” in the short run. The aim of green economy is to even economy, society and environment. Green fnance was developed within this new economic concept. One instrument of green fnance, i.e. socially responsible fnance is the Equator principles. This thesis shows the mechanism of action of fnancial institutions which accepted these new principles, but also points out disadvantages that must be removed over time so that these principles could have a positive impact on society and environment.

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Published
2018-05-09
How to Cite
MUNITLAK-IVANOVIĆ, Olja; ZUBOVIĆ, Jovan; MITIĆ, Petar. RELATIONSHIP BETWEEN SUSTAINABLE DEVELOPMENT AND GREEN ECONOMY - EMPHASIS ON GREEN FINANCE AND BANKING. Economics of Agriculture, [S.l.], v. 64, n. 4, p. 1467-1482, may 2018. ISSN 2334-8453. Available at: <http://ea.bg.ac.rs/index.php/EA/article/view/44>. Date accessed: 28 sep. 2020. doi: https://doi.org/10.5937/ekoPolj1704467M.
Section
Original scientific papers