Increasing environmental pollution and emission levels have shown that protecting the environment is necessary in recent years. For this reason, governments have started to take various measures to reduce the pollution caused by non-renewable energy sources and to eliminate the negative effects of CO2 emissions on environmental quality. However, policymakers sought resources to provide the financing needed to support environmentally friendly practices, and there was a need to create green financing sources. The green finance market focuses on sustainable practices and renewable resources, thus contributing to environmental protection and sustainability while providing significant returns for investors. In this context, this study aims to examine the impact of green finance, renewable energy and economic growth on CO2 emissions. The research was conducted within the framework of panel data regression analysis using annual data of 21 developing countries for the period 2006-2019. As a result of the study, findings were obtained that renewable energy affects CO2 emissions negatively and economic growth affects CO2 emissions positively. However, study results show that green finance does not affect CO2 emissions. The study findings emphasize that increasing the use of renewable energy resources will be beneficial in protecting the environment, that the environment will be damaged if economic growth is achieved with non-environmentally friendly resources, and that green financial resources are not important in protecting the environment. In this context, increasing the share of renewable energy sources in producing goods and services, carrying out economic activities through environmentally friendly development plans, and increasing awareness that green financing techniques are important for environmental quality may be among the policies to be recommended for developing countries.