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USD 20 bn investments required to achieve India’s climate targets: Report

Updated: Mar 12, 2022 10:28:08am

USD 20 bn investments required to achieve India’s climate targets: Report

New Delhi, Mar 12 (KNN) India needs USD 20 billion worth of investments each year to achieve its climate targets and fund its green transition, said FICCI & Trilegal in a report.

This was suggested in a white paper ‘ESG – Into the Mainstream’ which was jointly worked upon by FICCI & Trilegal.

It was released by Rajesh Verma, Secretary, Ministry of Corporate Affairs at a timely juncture as ESG (Environmental, Social and Governance) considerations are increasingly influencing the way in which businesses measure success.

The expectations of key business stakeholders such as investors, regulators, customers, and employees are also bringing these parameters in sharp focus.

India’s readiness to access and deliver climate finance and other related aspects such as uniform carbon tax policy and green taxonomy for enhancing investor confidence are explored in the report. 

It delves deep into potential sources of finance and novel structures and the need to incentivize investors willing to provide ‘first loss capital’ to de-risk projects and catalyze further investments.

The report details how corporates can contribute to the sustainability agenda, non-financial metrics and management of ESG risks. 

It also explores the themes of ESG Crisis Readiness and Regulation of ESG Ratings Providers in India through global comparisons and makes recommendations on the ESG framework that pre-empts ESG crises as well as handles one responsibly when it arises.

The report also spotlights reforms in power sector for encouraging ESG-led investment in India’s climate transition. (KNN Bureau)


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