IMF Working Papers

Sustainable Finance in Emerging Markets: Evolution, Challenges, and Policy Priorities

By Rohit Goel, Deepali Gautam, Fabio M Natalucci

September 9, 2022

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Rohit Goel, Deepali Gautam, and Fabio M Natalucci. Sustainable Finance in Emerging Markets: Evolution, Challenges, and Policy Priorities, (USA: International Monetary Fund, 2022) accessed March 23, 2025

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Sustainable finance has become a key focus area for global investors and policy makers. Last year proved to be a breakout year for emerging markets (EMs), with sustainable debt issuance in 2021 surging to almost $200 billion. This working paper, the first comprehensive study in the literature, analyzes the evoluiton of EM sustainable finance markets, including differences with advanced economies. The analysis shows how sustainable finance in EMs is growing fast not just in aggregate but importantly across many dimensions. The paper also identifies key development areas for EMs and policies to strengthen the resilience of sustainable finance markets.

Keywords: Emerging Markets, ESG, Sustainability, Sustainable Finance

Publication Details

  • Pages:

    29

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2022/182

  • Stock No:

    WPIEA2022182

  • ISBN:

    9798400218101

  • ISSN:

    1018-5941