It is now overwhelmingly clear that climate change can pose a major threat to humanity. Countries worldwide are mobilising resources and capital to tackle this challenge. At COP26, India announced a net zero emissions target by 2070 and enhanced 2030 NDCs. Financial resources and sound investments are needed to address climate change, to reduce emissions, promote adaptation to impacts already occurring and to build resilience.
India, like many developing countries, lacks financial resources to make the transition to clean energy that could reverse climate change. More than $2.5 trillion is required for India to fulfil its climate mitigation commitments by 2030. Yet, green investments only cover a small amount, creating a funding gap. Given the sheer size of the investment requirement, financing the clean energy transition will require proportionate, transformative increases in investment, mobilising debt, strengthening capital markets and creating new and innovative financial instruments.

Key themes being discussed:

• Green Finance Initiatives: Learn about India's successful issuance of sovereign green bonds and the new sustainable finance taxonomy developed by the Department of Economic Affairs, paving the way for increased investment in green projects.
• National Climate Initiatives: Discover the progress and future plans of key initiatives such as the Green Hydrogen Mission, the development of a domestic carbon market, and the launch of offshore wind energy projects, which are crucial for India's transition to a low-carbon economy.
• Risk Mitigation Strategies: Explore innovative strategies and instruments, such as blended finance, green guarantees, and climate insurance products, designed to mobilize private sector investments and reduce financial risks in scaling up energy and climate projects.
• Leveraging Philanthropic Funding: Understand how philanthropic funding is being leveraged to provide seed capital, catalytic funding, and technical assistance for innovative climate projects, driving impactful solutions and capacity building.
• Global Trends and Innovations: The growth of the global green bond market and emerging financial instruments such as sustainability-linked and climate resilience bonds are gaining traction worldwide.

About the Facilitator:

Sreyamsa Bairiganjan, Chief of Programmes, Shakti Sustainable Energy Foundation
Sreyamsa Bairiganjan is the Chief of Programmes at Shakti Foundation and brings nearly two decades of expertise to the forefront of sustainable development and clean energy. His strategic inputs have been instrumental in shaping global discourse and driving impactful initiatives in the sector. As a thought leader, Sreyamsa has contributed to influential reports and shared insights at high-level forums, including the G20, Asia Clean Energy Forum (ACEF), TEDx, and the United Nations Conference on Sustainable Development (Rio+20). His approach to scaling projects emphasizes a triple-bottom-line approach, ensuring streamlining of economic, social, and environmental benefits.
Sreyamsa's career spans prestigious organizations such as the World Bank, Arc Finance, and the World Resources Institute, where he has led transformative projects that align investment goals with sustainability imperatives. He is a multiple-time recipient of the prestigious World Bank VP awards and "Above and Beyond" recognitions, underscoring his commitment to driving positive change in the global sustainable development landscape.