It is conspicuous that the mainstream financial system in the EU is transforming into a sustainable financial system by a supra/national policy and institutional framework for meeting the goals of SDGs and the targets of the Paris Agreement for climate change together with Nationally Determined Contribution. However, Botswana or Sri Lanka has no such framework. Hence, a need of the hour has arisen to evaluate the sustainable finance policies in Botswana, Sri Lanka, together with the EU seeking insights from the EU's policy framework. Since sustainable finance is not a well-grown branch of the conventional mainstream financial system, the nature of the knowledge is produced by social constructivism based on the grounded theory and the theory is inductively developed for achieving the purpose of the research. The study found, among other things, that incorporating existing policies into the multiple ministries and affiliated institutions together with the current industry-led policy initiatives to manage ESG risks are not adequate. Hence it is recommended various insights to be taken into consideration by the policymakers to formulate a national framework for mobilizing public and private capital to meet the goals of sustainability.

Most of the knowledge-based economies (KBEs) operate in a neoclassical economic model that does not recognize the importance of natural resources and sustainability beyond the market forces. In contrast, KBEs that rely on endogenous factors harmonize with the enlightened anthropocentrism for sustainable development with scientific and technical abilities to design the ecological system for infusing human values into nature. For example, the Quintuple Helix Model of Innovation. In this exploratory research, it was found that the conventional structure of universities in Botswana is unable to produce glocal green knowledge and innovation in their mainstream knowledge production process due to bureaucratism, rationalism, myths and ceremonies, isomorphism, and legitimacy whereas institutional logics and agency of social actors support for Paris Climate Agreement and 17 Sustainable Development Goals (SDGs). Hence, the Quintuple Helix Model with Mode 3-Knowledge production is used to redesign universities' conventional structures. This study perused two sources of data, document analysis, and interviews. Data collected from documents were analyzed by axial coding. After that, interview data from five internal stakeholders were collected based on priori codes, themes, and concepts developed with document analysis. They were thematically analyzed for triangulation. Finally, the theory was developed by induction underpinning with interpretive philosophy when redesigning universities' conventional structure. The proposed model designed is called "Green University System" to facilitate the production of glocal green knowledge and innovation for sustainable development with Mode 3 and Quintuple Helix model of innovation. Keywords Knowledge-based economies (KBEs) • Quintuple helix model of innovation • Mode 3 knowledge production • Green university • Neo institutionalism • Green knowledge system

Universities are isomorphic not because of the effectiveness of their processes but because of the legitimacy assigned by institutional logic. However, sustainable development discourses invoke a novel mission for producing knowledge and innovation for sustainable development. Accordingly, this research collected data from five types of internal stakeholders' intellections of the four pillars of green university infrastructure. The analysis of data collected from 89 university stakeholders sufficient for a 90% confidence level with 5% relative tolerable error was organized as five groups in a contingency table for the chi-square test. The statistical analysis, that is, the chi-square value, indicates that all five stakeholders perceive in the same direction – that the four pillars of the green university soft infrastructure need to be reconfigured to produce green knowledge and innovation. Hence, the findings inspire the conventional universities and policymakers to transform their universities into sustainable institutions with four pillars of soft green infrastructure.