Vol. 6, Issue 2, Part B (2024)

In today’s time when we are extremely enraged with the severe change in weather conditions due to global warming and hazardous environmental conditions causing life-risk; it has become more important to think about preservation of our environment. More or less every rational human being is trying to make some contribution towards the conservation of the environment by planting tree or by disposing garbage appropriately or by using reusable goods or by avoiding use of plastic goods etc. Similarly, the world of finance is also trying to contribute in its own way towards greener and safer environment through ‘eco- investing’ or ‘green- investing’.
Green investing are investments made in such funds which has certain environmental implications such as pollution control, reduction in fossil fuel, conservation of natural resources etc. Green investing can be done through stocks, bonds, mutual funds etc. Green investment got its recognition and popularity from socially responsible investment thoughts, which emerged formally through sustainable accounting and reporting in the form of the Environmental, Social and Governance (ESG) criteria. The ESG framework has brought a drive towards sustainable development goals and greener economy. The outbreak of COVID 19 has changed investor’s attitude towards ESG funds, which is evident from significant increase in assets under ESG funds in the post COVID scenario. Recently a report on the Landscape of Green Finance in India in 2022, by Climate Policy Initiative, India mentioned that green finance in India are falling far short of the country’s current needs. This raises the relevance of the present paper. This paper attempts to analyze present scenario of green investments in India. Then through a case study on TATA Powers Ltd. (one of the best performers in green equities) attempts to give an understanding on green growth solutions towards sustainable development and tries to depict how over years the company has been evolving itself towards more sustainable representation through its BRSR reports.