Επενδύσεις για μια βιώσιμη ανάπτυξη στην Ελλάδα και ο ρόλος του χρηματοπιστωτικού τομέα
Investments for sustainable development in Greece and the role of the financial sector
The current paper comprises a study of investments leading to a sustainable development in Greece as well as a reference to the financial sector’s role. At first, the importance of investments in the economy and the intense need for these to be increased is examined while the notion of sustainable development and the UN’s Agenda 2030 are presented. Then, the urgent need for action concerning the climate and environment is emphasized and the cost caused by climate change is examined alongside with agreements and plans on European and International level in this field. Therefore, special emphasis is given on such investments since these are of strategic importance for our country as well. Following, capitals needed for zero emissions in Greece are examined, investments playing an important role are analyzed and it is scrutinized how a fair transition will be ensured. Benefits from materialization of these investments are also mentioned. At the same time, the iconic project ‘’Smart and Sustainable Island’’ in Astypalaia is presented since this will act as a template towards a greener future. Moreover, the way Greek businesses have reciprocated to this urgent climate need is recorded in the paper along with the obstacles to climate investment. Some examples of companies responding positively to this need are also mentioned. In the last chapter it is presented how the financial sector can promote sustainable development. Thus, the financial system is described as well as the financial intermediation. The power of all financial institutions towards the successful materialization of investments mentioned in the paper becomes understandable. Emphasis is given to the need for this sector to adopt such a logic that will accommodate goals posed by international community and some of these efforts made are described to ensure that this sector will contribute to sustainable development. Finally, certain examples of financial institutions that invest in a sustainable future are also stated.