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Mahesh

23/04/23 09:20 AM IST

World Earth Day

In News
  • Earth Day is celebrated on April 22 every year. The day is also known as International Mother Earth Day.
World Earth Day
  • Earth Day is an annual event observed on April 22 to demonstrate support for environmental protection.
  • It was first held in 1970. The theme for World Earth Day 2023 is 'Invest In Our Planet.
  • This ongoing theme encourages us all to invest in a better future for our planet by tackling environmental issues such as climate change, biodiversity, and waste reduction.
History
  • On April 22, 1970, 20 million American citizens took to the streets across the city to protest against the environmental crisis such as water pollution, oil spills, forest fire, air pollution etc.
  • That street protest created a huge buzz and spread like wildfire as hundreds of cities joined gradually the revolution to make it one of the biggest protests on the globe.
  • From the first World Day movement to the current World Day 2022 celebration, the planet made the largest civic event to remember forever.
Green Financing
  • Green financing is to increase the level of financial flows (from banking, micro-credit, insurance and investment) from the public, private and not-for-profit sectors to sustainable development priorities, as per the United Nations Environment Programme.
  • A key part of this is to better manage environmental and social risks, take up opportunities that bring both a decent rate of return and environmental benefit and deliver greater accountability.
  • Green financing could be promoted through changes in countries’ regulatory frameworks, harmonizing public financial incentives, increases in green financing from different sectors, alignment of public sector financing decision-making with the environmental dimension of the Sustainable Development Goals.
Benefits
  • Businesses that take to green finance can benefit in various ways. It can help them follow different environmental norms and regulations and thus avoid possible fines.
  • Since climate change has gained huge public attention, adopting sustainable practices by relying on green finance enhances brand value and offers a positive differentiator.
  • Customers tend to prefer brands that adopt clear sustainable practices.
  • The energy-efficient and other sustainable practices promoted by green finance also often help in saving costs thus boosting profitability of businesses.
Source- PIB

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