Unlocking Green Financing in India and Worldwide

Published onMarch 28, 2019

Massive financial investment is needed in clean energy, transport and buildings to achieve climate goals, especially in emerging countries, such as India. The International Energy Agency projects that $1 trillion of annual investment is required through 2050 to reach the Paris targets and much more is needed to keep the warming below the 1.5ºC threshold as warned by the IPCC. Around the world, “green banks” are emerging as solutions to grow green infrastructure markets. Leaders from developed and developing countries from Asia, Africa, the Middle East and Latin America gathered for the Green Bank Design Summit. Over 20 developing countries representing 27% of global GDP and 44% of global carbon emissions came together to design and set up green finance institutions to catalyze low-carbon and climate resilient investments in emerging markets…

…the summit marked the first time that emerging markets considering the setup of green banks as an implementation strategy for the Paris Agreement came together at this scale. The summit also provided an opportunity for knowledge exchange among countries with existing green banks from Australia, the United Kingdom, United States and elsewhere.

Source: https://www.nrdc.org/experts/anjali-jaiswal/unlocking-green-financing-india-and-worldwide