Rakić and Mitić, defines Green Finance as future-oriented finance. The development of the financial industry is pursued simultaneously resulting in the environment and economic growth improvement. New technologies, financial products, industries, and services related to the environment, energy efficiency, and reduction of pollutant emissions are incorporated so that low-carbon green growth can be supported.
As per CER Certified Emission, Green Finance is the overlapping area, which is Financial Support for Green Companies, Development of Green Technology, Development of Green Financial Products, and Efficient operation of Carbon markets.
Source:- Rakić S, Mitić P (2012) Green banking: green financial products with special emphasis on retail banking products. Educons University, Sremska Kamenica