The role of finance sector and green bonds in fighting against global climate change

The aim of the study is to reveal how green bonds used in financing natüre-frendly green projects have taken shape in the process that is from its begining until today and to present the effect of green bonds in the fight against climate change. Today as a result of the development of capital markets, capitalism has become dependent on a ceaseless output growth. This situation has brought about the formation of a production concept in which social and environmental conditions are not taken into account. As a matter of fact that, world resources, notably the environment, are gradually approaching the limit of depletion as a result of human activities. Therefore, giving due importance to the enviroment, which is the primary source of production and all processes of the ecological systems accompanying it has become a widely accepted view worldwide. It is inevitable to take some necessary measures and increase the effectiveness of measures taken in order to fight against global warming and climate change, which has reached a dimension that individuals, businesses and governments can not be indifferent to and has become much worse. In this context, after making a necessary literatüre review on the subject, in the first section of the study, the main environmental problems that threaten the live life and their effects have been discussed, sustainable approaches applied either in the world or in Turkey fort he solution of dramatic environmental problems such as global warming and climate change have been examined. In this section, it has been emphasized that the green economy model, which has been created to reflect the idea of developing economic instruments compatible with the ecological system, instead of existing economic activities that have a destructive effect on the environment, has also constituted a road map in order to ensure the sustainable development. In the second section of the study, after mentioning the main financial products developed fort he purpose of carrying out economic activities with a sustainability approach, green bonds, which are important tools in providing resources for sustainability and utilization of which are ever-increasing both in the world and in Turkey, have been detailedly explained. As for he last section, after presenting information relating to the global volumes of green finance and green financial instruments, applicability of green finance, which has become widespread around the world, in Turkey has been examined by emphasizing the steps taken by Turkey for green finance and Turkey's potential in this issue has been revealed.