IS SOCIAL FINANCE A KEY TO PROMOTE SUSTAINABLE DEVELOPMENT

Abstract

 It is high time that the societal goals, namely environmental protection, social impact and economic development move hand-in-hand to achieve the ultimate objective of Sustainable Development. The focus concern is about the need to care of Human, Social, Environmental and Economic resources of the developing nations. Financial Management is one of core platforms in building up strategies and approaches to create a positive impact on the society, environment and corporate governance. This research highlights the key approach in this direction under the financial management - Social Finance. Social Finance approach is capital and investments that yields economic as well as social gain. Social Finance does not mean philanthropy, donations and grants. Social Finance is a recently emerging concept and a step forward to behavioral finance after the traditional finance. It includes investments which fetch economic gain and help create environmental and social impact as well. This is a challenge for the developing nations to influence corporates as well as the individuals, with respect to their investment pattern, to invest in such instruments and avenues which are tailor-made to improve the society, at large.