Workshop in Kolkata Focuses on Financing India’s Green Transition and Climate Adaptation
A two-day workshop on “Financing India’s Green Transition Plan and Adaptation Needs” was inaugurated in Kolkata, under the Green Climate Fund (GCF) Readiness Programme. The workshop, organized by the Ministry of Environment, Forest and Climate Change (MoEFCC), brought together key stakeholders to discuss financing mechanisms essential for India’s shift to a low-carbon economy and climate-resilient future.
At the event, Rajasree Ray, Economic Advisor at MoEFCC, highlighted the necessity of developing a climate finance taxonomy to guide investments. The aim is to create clear guidelines for investments in both mitigation and adaptation projects, which are crucial for reducing emissions and preparing for climate change impacts. The taxonomy would also provide clarity on sustainable finance practices, making it easier for both domestic and international investors to channel funds into climate action.
Key participants, including financial institutions, private sector players, and environmental experts, discussed the potential for increasing private sector involvement in financing climate solutions. The workshop also addressed existing challenges in climate financing, particularly the need for innovative funding models to meet adaptation needs.
The workshop emphasized collaboration between the public and private sectors, as well as the need for multi-stakeholder partnerships to support India’s long-term green transition. With India’s national climate plans demanding significant investments in clean energy, infrastructure, and ecosystem protection, the event underscored the critical role of targeted financial strategies and inclusive approaches to ensure the success of the transition.This event marks a significant step in India’s journey to align its development with climate resilience goals, ensuring that economic growth is both sustainable and adaptable to future environmental challenges.
