India
In India, CPI focuses on developing innovative finance and policy solutions in support of the renewable energy and green growth plans of the Government of India. We work with a host of partners including the Ministry of New and Renewable Energy and Indian Renewable Energy Development Agency through the management of a USD 10 million engagement for decentralized solar, and more recently with Encourage Capital and KfW on the build-up of financial intermediaries.
The team expertise lies in renewable energy, electric mobility, forestry, fiscal instrument design, and the financial sector at large.
CPI’s India program is led by Dhruba Purkayastha.
Featured work
Publication
Landscape of Green Finance in India
Climate Policy Initiative’s Landscape of Green Finance in India presents the most comprehensive information on green investment flows in the country in FY 2017-FY 2018.
Blog
India needs a bailout - Can we make it green?
A long-term stimulus to tackle the crisis should have incentives for the kind of economy we want – green, clean, inclusive, and efficient.
Publication
An Assessment of India's Energy Choices
A four-report series that looks at the future of renewable energy in India along different economic dimensions, including the social costs, macroeconomic impacts, environmental impacts, financial risk, and flexibility considerations.
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Latest work
Blog
Is India's national budget green enough?
India’s budget for 2021-2022 lays a strong foundation for a sustainable recovery post-COVID-19, with a clear focus on infrastructure development and job creation. Despite the fiscal constraints due to the pandemic, the current budget does convey the government’s intent to fight climate change. However, the budgetary allocations may fall short given the sheer scale of estimated adverse economic impact due to the impending climate crisis.
Publication
Improving the impact of fiscal stimulus in Asia: An analysis of green recovery investments and opportunities
India, Indonesia, the Philippines, Singapore, and South Korea have together announced a total of USD 884 billion in COVID-19 recovery stimulus packages. This study maps the ‘greenness’ of these fiscal stimulus measures and their contribution towards country-level climate objectives.
Blog
3 lessons from India for achieving clean and accessible energy
97% of Indian households now have access to electricity with an average of 20.6 hours of grid-electricity supply. But there are still gaps that need to be filled for India to achieve its vision of 24/7 uninterrupted electricity supply.
Publication
USICEF 2020 Impact Report
In just three years, USICEF has identified over 30 early-stage businesses across 20 states in India, mobilized USD 200mn in debt financing, and has committed a total of USD 5.1 million in grant-based funding to these projects.
Publication
Electricity market reform - Karnataka case study
Karnataka is well placed to meet its energy needs over the next decade thanks to the rapid deployment of renewables. But capacity additions of solar and wind are not enough on their own to help the state meet its targets.
Publication
Electricity market reform – Tamil Nadu case study
This case study addresses key elements of electricity market reforms and technology development that are central to the ability of Tamil Nadu, and India as a whole, to meet its decarbonisation goals.
Blog
Towards a greener tomorrow: India needs climate budget tagging
Climate budget tagging will help identify, classify, and weigh climate-relevant spending, thereby enabling the estimation, monitoring, and tracking of such expenditures
Publication
GROVE: Forestry Smart Ledger
GROVE: FSL crowdfunds capital for smallscale forestry projects, reduces monitoring costs through remote sensing and machine learning, and increases financial transparency and local community earnings through blockchain-backed smart contracts.
