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In September 2019, India announced its target to reach 450 GW of renewable energy generation capacity by 2030, making it one of the most ambitious targets in the world. India’s Nationally Determined Contribution (NDC) estimates that the country will require ~INR 162.5 lakh crores (USD 2.5 trillion) from 2015 to 2030, a requirement of roughly INR 11 lakh crores (USD 170 billion) per year to finance its climate actions. While India’s energy sector is one of the fastest growing in the world and has been attracting substantial investments, meeting the country’s climate goals will require unbiased, transformative investment increases at the sectoral level.
CPI launched a new, first-of-its-kind research, “Landscape of Green Finance in India,” which tracks green investment flows, measuring both public and private sources of capital in India for FY 2017 – FY 2018. We find that while flows to India’s green sectors have been increasing, and even outpace GDP growth, they fall short of the transformational change required for the country to meet its dual economic and environmental goals.
This 90-minute, virtual event was designed to bring together stakeholders in the green sector, discuss the economic and financial progress India has made so far, and deliberate on how we can build and bring about a transformational change in India’s green future.
This project is supported by Shakti Sustainable Energy Foundation.