The Paris Agreement calls for making finance flows consistent with a pathway towards low carbon emission. For India to achieve its climate goals, investment worth USD 2.5 trillion would be required by 2030 and USD 10 trillion by 2070. A transition finance approach focused on a dynamic process of supporting finance for decarbonisation of industries, especially hard to abate sectors like steel, cement, fertiliser, and refinery, mobilising investment for transition to green hydrogen, offshore wind, battery storage, CCU, low emission EVs, sustainable agricultural interventions, which is finding difficulty in accessing institutional finance for making this transition on their own.
The objective of the session was to enhance the knowledge, gain valuable insights to develop perspectives on transition finance, to share knowledge, solicit view, opinion, ideas from multiple stakeholders including banks/ FI, Multilateral Development Banks, Govt., Central Banks, for developing a transition finance approach for India and for facilitating discussion for an economy wide transition for India.
