TARU PUBLICATIONS
Journal of Information and Optimization Sciences cover
Open Access ·Peer-reviewed·ISSN (Online): 2169-0103·ISSN (Print): 0252-2667
Powered by:DOICrossrefiThenticate

The Journal of Information and Optimization Sciences (JIOS) is a world leading journal publishing high quality, rigorously peer-reviewed original research in all mathematically-oriented theoretical and applied topics in information sciences, optimization sciences and related areas since 1980. Subjects include but are not limited to: • Information Sciences • Optimization Sciences • Control Theory • Operational Research • Decision Sciences • Information Theory • Information Technology • Computer Networks and Communications • Mathematical Programming • Modelling and Simulation • Database Management • Applications to Engineering Sciences • Applications to Technology

Issues up to 2022 co-published with and available at:Taylor & Francis
submissions@tarupublications.com
Open Access Research Article

Impact investing : Strategic innovation towards sustainable development goals

* ,

* Corresponding author · click or hover a name for details

pp. 2521–2532Vol. 46Issue 8November 2025DOI: 10.47974/JIOS-2076XML
Received:
05 Feb 2025
Published Online:
01 Nov 2025
Article type:
Research Article
Language:
EN
Article no.:
JIOS-2076
Pages:
2521–2532

Abstract

Impact investing is an emergent area playing a key role in attainment of Sustainable Development Goals (SDGs) through financial innovation, thereby connecting economic, social and environmental impact. The present study has adopted a qualitative approach based on document analysis in order to examine how financial instruments or strategies support SDGs. The cases of ReNew Power, Samunnati, and Bharat Financial Inclusion Ltd, were adopted for the present study due to their active involvement in impact investing and their commitment to SDGs. The results showcase the multidimensional understanding of how the use of different financial instruments and strategies of impact investing facilitate the attainment of SDGs in developing economies like India.

Keywords

Subject Classifications

91B7691G1591D1000AO6

References

[1] J. X. Zhan and A. U. Santos-Paulino, “Investing in the Sustainable Development Goals: Mobilization, channeling, and impact,” J. Int. Bus. Policy, vol. 4, no. 1, pp. 166 (2021).[2] T. E. Newmark and M. A. Pena, Impact Investing for a Sustainable Planet: Insights from EcoEnterprises Fund. Taylor & Francis (2023).[3] R. E. Freeman, J. S. Harrison, A. C. Wicks, B. L. Parmar, and S. De Colle, Stakeholder Theory: The State of the Art. Cambridge University Press (2010).[4] P. Matos, “ESG and responsible institutional investing around the world: A critical review,” (2020).[5] M. I. Khan and A. Iqbal, “Integrating ESG with corporate investment decision-making,” in The Emerald Handbook of Ethical Finance and Corporate Social Responsibility: A Framework for Sustainable Development. Emerald Publishing Limited, pp. 329–350 (2024).[6] S. Barua, “Financing sustainable development goals: A review of challenges and mitigation strategies,” Bus. Strategy Develop., vol. 3, no. 3, pp. 277–293 (2020).[7] E. Agliardi and R. Agliardi, “Financing environmentally-sustainable projects with green bonds,” Environ. Develop. Econ., vol. 24, no. 6, pp. 608–623 (2019).[8] R. Carè and R. De Lisa, “Social impact bonds for a sustainable welfare state: the role of enabling factors,” Sustainability, vol. 11, no. 10, pp. 2884 (2019).[9] I. Ostojić, P. Petrović, and V. Kelić, “Blended finance as a sustainable development support mechanism,” (2024).[10] E. S. Sartzetakis, “Green bonds as an instrument to finance low carbon transition,” Econ. Change Restruct., vol. 54, no. 3, pp. 755–779 (2021).[11] S. K. Park, “Investors as regulators: green bonds and the governance challenges of the sustainable finance revolution,” Stan. J. Int’l L., vol. 54, pp. 1 (2018).[12] Y. Zhang and M. Umair, “Examining the interconnectedness of green finance: an analysis of dynamic spillover effects among green bonds, renewable energy, and carbon markets,” Environ. Sci. Pollut. Res., vol. 30, no. 31, pp. 77605–77621 (2023).[13] N. Palmer, “Making climate finance work in agriculture,” World Bank Discussion Paper (2016). [Online]. Available: https://openknowledge.worldbank.org/bitstream/handle/10986/25366/ACS19080-REVISEDOUO-9-Making-Climate-Finance-Work-in-Agriculture-Final Version. pdf . [14] C. Anitha and D. R. Reddy, “Evolution and emerging role of MFIs in Indian microfinance sector,” Sumedha J. Manage., vol. 6, no. 4, pp. 87–105 (2017).[15] Y. Alhassan, U. Nwagbara, and L. C. Bellamy, “The Impact of FinTech Integration on the Accessibility and Sustainability of Microfinance Institutions: A Case Study Approach,” In Microfinance, Financial Innovation, and Sustainable Entrepreneurship in Economics. IGI Global Scientific Publishing, pp. 183–212 (2025).[16] S. Takkar and C. Gupta, “Analysis of Impact Investment for Sustainable Development in India,” in Sustainable Development in Industry and Society 5.0: Governance, Management, and Financial Implications. IGI Global, pp. 1–25 (2024).[17] L. Xu and Y. A. Solangi, “Evaluating the impact of green bonds on renewable energy investment to promote sustainable development in China,” J. Renew. Sustain. Energy, vol. 15, no. 5 (2023).[18] M. E. Warner, “Private finance for public goods: social impact bonds,” J. Econ. Policy Reform, vol. 16, no. 4, pp. 303–319 (2013).[19] P. Sharma, “Retrospect and Prospects of Impact Investing in India,” Pacific Bus. Rev. Int., vol. 12, no. 7 (2020).[20] F. Azmat, A. Jain, and F. Michaux, “Strengthening impact integrity in investment decision-making for sustainable development,” Sustain. Accounting, Manage. Policy J., vol. 13, no. 1, pp. 55–87 (2022).[21] U. S. Bhutta, A. Tariq, M. Farrukh, A. Raza, and M. K. Iqbal, “Green bonds for sustainable development: Review of literature on development and impact of green bonds,” Technol. Forecast. Soc. Change, vol. 175, pp. 121378 (2022).[22] Securities Exchange Board of India, Annual Report 2022–23 (2023). [Online]. Available: https://www.sebi.gov.in/reports-and-statistics/publications/aug-2023/annual-report-2022-23_74990.html.[23] KPMG IMPACT, The Time Has Come: The KPMG Survey of Sustainability Reporting 2020 (2020). [Online]. Available: https://assets.kpmg.com/content/dam/kpmg/be/pdf/2020/12/The_Time_Has_Come_KPMG_Survey_of_Sustainability_Reporting_2020.pdf.[24] A. Kohli, R. Wadhwa, and G. C. Tripathi, “Sustainable finance from foreign actors into renewable energy and economic growth: An Indian perspective,” J. Stat. Manage. Syst., vol. 26, no. 5, pp. 1015–1028 (2023).
Views: 78Downloads: 8Citations: 0