Abstract:Different countries and regions are characterized by differentiated green finance development pathways. The prominent feature of green finance development in the EU is the legalization of green finance policy. With dedicated organizations providing methodological research and regulatory support，EU countries have gradually developed a robust green finance system. The UK，France，and Germany are leading European countries in green finance development，with relatively advanced green finance policy systems，information disclosure mechanisms，and green finance markets. Among East Asian countries，China’s green finance development is characterized by a “top-down” approach，while Japan emphasizes a synergetic development of “green” and “transition” finance，and South Korea has a government-led green finance development model. In contrast，green finance development in the US is driven by many “bottom-up” practices in the financial market. Association of Southeast Asian Nations （ASEAN） countries leverage the coordinated regional market to develop green finance. Less Developed Countries （LDCs） urgently need increased international climate finance to support climate adaptation.As green finance continues to improve，countries in Europe，Asia，and North America have explored various models of green finance development. Due to the correlated economic development gaps among different regions，green finance development is unbalanced. Green finance is at the initial stage of fully realizing its potential in supporting the world，particularly in developing countries，to address climate change and other sustainable development challenges.
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