In India, Climate Policy Initiative (CPI) develops innovative finance and policy solutions that support credible, equitable green growth and transition plans. Our work helps ensure that the Government of India, Development Finance Institutions, the private sector, and the overall Indian economy reach ambitious net-zero and sustainability goals. This work includes green finance, sustainable finance, renewable energy, and just energy transition.

Our work focuses on three thematic areas: enabling capital through managing funds and creating blended finance and risk management frameworks; promoting green and sustainable finance initiatives through monitoring finance flows and evaluating environmental impacts; and enabling a just transition through transforming electricity systems, reducing emissions, and creating a fair framework.

Among other research, analysis, and financial innovation efforts, we manage: the India window of the Global Innovation Lab for Climate Finance, an incubator for innovative climate finance instruments; the India Clean Energy Finance initiative, a program to mobilize debt financing for distributed solar energy; the India Pure Finance Facility, an initiative for promoting productive applications of Renewable Energy; and the India Center for Sustainable Finance, a knowledge and networking hub designed to accelerate India’s financial sector towards a more sustainable future.

Our expertise includes renewable energy, climate finance, sustainable transportation, industrial decarbonization, just transition, and greening the financial sector. Dhruba Purkayastha leads the team.

Latest work


The Energy Transition Dialogues Communique

This communique serves to address the pressing challenges in accessing financing for clean energy and endeavors to pave the way for an enabling mechanism that will galvanize the flow of capital into the clean energy sector.


Powering India’s Future: Towards a People-Positive Energy Transition

“Transition Finance: Supporting India’s Net-Zero Goals” delineates the importance of transition finance and explores innovative financial solutions that can facilitate India’s ambitious journey towards net-zero.


Green Investment Opportunities in India

While the high-level numbers on climate investments required in India are well acknowledged, this report is an attempt by Impact Investors Council (IIC) and Climate Policy Initiative (CPI), to delve deeper and identify climate-oriented sectors in both mitigation and adaptation which offer potential investment opportunities across green value chains in products, technologies, and services. With the right set of enabling policies and incentives, these critical climate investment sectors have the potential to scale up significantly.
This report endeavours to provide adequate investment information to global strategic and financial investors on the scale of green investment opportunities in India.


Impact Financing Facility for Climate-Focused Social Enterprises

The Impact Financing Facility for Climate-Focused Social Enterprises is a credit guarantee mechanism augmented by technical assistance that helps innovative, new to-credit climate-focused social enterprises and their end users unlock collateral-free commercial debt, build a credit history, and scale operations to create greater impact.


The Role of Coal in a Sustainable Energy Mix for India

The chapter looks at financing transition technologies from the perspective of financial institutions. It attempts to think through the concept of transition finance and discusses the current definition and emerging regulations in the field.


The Role of Coal in a Sustainable Energy Mix for India

The chapter evaluates the transition linked to financial risk and proposes a business diversification framework for the PSUs engaged primarily in the business of solid fossil mining (Coal India Limited) and conventional power generation (NTPC Limited). The business diversification framework considers technology maturity, market potential, and financial attractiveness to develop competing investment scenarios. This analysis is aimed at supporting medium to long-term business planning for the futureproofing of these PSUs.

More results +


Aanandita Sikka


Anmol Kalra

Senior Analyst

Anup Kumar Samal


Arnab Sarkar


Arun Krishnan

Program Manager - India Lab

Arun Kumar Jain

Associate Director

Debal Mitra

Senior Manager

Dhruba Purkayastha

India Director & USICEF Director

Kalpesh Gada


Kavita Vij

Manager Grants & Partnerships

Kushagra Gautam


Md Tariq Habib

Senior Analyst

Neha Khanna

Senior Manager

Saarthak Khurana


Saurabh Chandra Rai


Saumya Tiwari

Senior Communications Associate

Shabdita Bajpai

Finance Associate

Vivek Sen

Associate Director

Yash Kashyap

Senior Analyst

Manish Kumar

Senior Analyst

Malini Chakravarty

Research Manager

Amandeep Singh

Senior Analyst

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