Mumbai: The Ministry of Environment, Forest and Climate Change on Friday organized the “Climate Conference 2024” in Mumbai to discuss India’s roadmap to achieving net-zero by 2070 and investments to transform energy systems.
The Conference also highlighted India’s steps on the reduction of CO2 emissions, conserving natural resources, increasing biodiversity, and enhancing climate resilience in a socially just and inclusive manner.
The theme of the conference is “Decoding the Green Transition for India,” which delved into the current landscape of climate finance in India, exploring the roles of government, venture capitalists, corporates, and industry leaders.
Speaking at the event, Secretary, MoEFCC Leena Nandan highlighted the global impact of extreme events due to climate change, emphasizing the need for immediate action, planning, and finance mobilization.
Ms. Nandan stressed the importance of insurance and risk mitigation, mainstreaming climate startups, and upscaling them to industry and business models. She emphasized that actions like biomass utilization and waste management are considerable for climate action.
Amitabh Kant G20 Sherpa said that India’s emerging issues of industrialization, urbanization, and growth, emphasize five critical areas: renewable energy, energy storage, electric mobility, energy efficiency, and the circular economy.
He highlighted the significance of promoting energy efficiency in micro, small, and medium enterprises (MSMEs) for cost savings and increased competitiveness.
The Conference was organised under the Green Climate Fund Readiness Programme with Delivery Partner UNDP India and supported by Knowledge Partner Avaana Capital.
Speaking at the event Anjali Bansal, Founding Partner of Avaana Capital said: “We are encouraged by the private sector engagement by MOEFCC and Green Climate Fund leading to the first of its kind Climate Conference 2024, a remarkable partnership between MOEFCC and Avaana Climate and Sustainability Fund”.
She added that India is integral to any global climate solution and our technology prowess can create innovative solutions not just for India but for the world. My sincere thanks to all stakeholders who contributed their insights and commitment to this impactful event”.
“At Avaana, we’re committed to nurturing sustainable innovations, as demonstrated by this event along with other events such as the Grand Challenge for Climate Tech Innovation” she further added.
The conference also centered on strategies to boost financing in the climate-tech ecosystem, emphasizing emerging solutions with disruptive potential.
The Conference also highlighted Sustainability-linked funds, risk-sharing facilities, and concessional financing. Overall, the event brought together stakeholders from diverse sectors to foster collaboration and partnership, promoting the development and adoption of sustainable, climate-resilient technologies and practices.
