Climate Strategy 2030
National Bank for Agriculture and Rural Development (NABARD) on the occasion of Earth Day unveiled its ‘Climate Strategy 2030’ document aiming to address India’s need for green financing
NABARD said since India requires approximately $170 billion annually to reach more than $2.5 trillion by 2030, the current green finance inflows are woefully insufficient.
As of 2019-20, India garnered about $49 billion in green financing, merely a fraction of what is needed.
With the majority of funds earmarked for mitigation, only $5 billion was allocated towards adaptation and resilience, reflecting the minimal private sector engagement in these areas due to challenges in bankability and commercial viability
NABARD’s Climate Strategy 2030 is structured around four key pillars which include
accelerating green lending across sectors,
playing a broader market-making role,
internal green transformation
strategic resource mobilisation
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