The urgency of mitigating climate change is mounting globally and developing countries have a key role to play in ensuring a sustainable future. This volume provides a comprehensive overview of all aspects of climate finance from the perspective of developing economies with a focus on India.
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The urgency of mitigating climate change is mounting globally and developing countries have a key role to play in ensuring a sustainable future. This volume provides a comprehensive overview of all aspects of climate finance from the perspective of developing economies with a focus on India.
Catalysing climate action requires economic and societal adjustments, beginning with additional resource mobilisation, capital reallocation and financing structures supported by appropriate regulations, reasonably functioning markets, and effective institutions. Through an integrated assessment of macro-financial policies and market microstructures, this book provides a thorough understanding of how countries in the Global South can effectively mobilize and deploy financial resources to address climate change challenges. It brings together the views of academics, bureaucrats, policy analysts and civil society organizations who are actively engaged in climate finance to discuss challenges and options for India as it seeks to finance effective climate action. It offers a plurality of often-opposing ideas and observations, rooted in the reality of India’s political economy. The volume presents novel solutions as well as lessons from international experiences to initiate and accelerate flow of finance into climate related activities.
This book will be an essential resource for scholars in environmental studies, development economics, and public policy, while offering crucial insights for policymakers and practitioners engaged in sustainable finance.
This book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons (CC-BY-NC-ND) 4.0 license.
Introduction PART 1 - Climate Finance Landscape
1. Financing Net-zero:
An Assessment of Top-down and Bottom-up Approaches
2. Leveraging Public
Finance for Scaling Renewable Energy Projects
3. A Pragmatic View on Climate
Finance
4. Trade-offs: Risks and Prices of Renewable Energy Generation
Alarm Calls are Ringing Out
5. How to Reform, Target and Swap Public
Financial Flows Effectively: Lessons from Energy Financing in India PART 2
Governance
6. Addressing Climate-Related Financial Risks: Interrogating
Efficacy of Actions by RBI
7. Climate Finance and Achieving SDGs and Climate
Resilience in Low-Income Contexts: The Bay of Bengal Region
8. Financing
Climate Action at Subnational Level: Cases from India (Maharashtra)
9.
Financing Climate action at Local Level: Scope, Opportunities and Challenges
PART 3 - Instruments and Mechanisms
10. Increasing Flows for Green and
Transition Finance Thinking Beyond Bank Debt
11. Navigating Carbon Pricing
in India: Assessing Policy Options, Impacts, and Pathways to a Sustainable
Economy
12. Illustrating the Case of a Sub-National Climate Finance Need
(Maharashtra)
13. Beyond the Trillions: Solving for Climate through
Innovation and Risk rather than Big Money PART - 4 Financing The Real Economy
to Address Climate Change
14. Blended Capital market Mechanisms for Critical
Decarbonisation Projects in India
15. Mainstreaming Transition Plan
Disclosures for Indian Companies
16. Carbon markets as a necessary element to
support Climate Financing in India
17. Financing India's Green Grid:
Overcoming Challenges and Unlocking Investment for Renewable Integration
18.
Financing Energy Efficiency for MSMEs in India
19. Financing a Just
Transition in the Coal Sector: Trade Union Perspectives on Social Equity and
Sustainable Development PART 5 - Public Finance
20. Grants and Granting
Mechanisms for the Loss and Damage Fund
21. Intermediation in a bank-based
financial system and financing climate action: a view from India
22. Green
QE: What the Lender of the Last Resort can do for Saving the Planet PART 6
Lessons From Other Economies
23. Placing Your bets for Clean Energy
Transition Public or Private?
24. Green Fiscal Instruments for a Transition
to Low-Carbon Economy: Experience from European Countries and Lessons for
India
25. Country Platforms as a Way to Accelerate Development and Climate
Action? Discussing Global Developments and Lessons for India
Runa Sarkar is a Professor with the Economics Group, at the Indian Institute of Management Calcutta. Her interests lie in sustainable development where business interests are in consonance with environmental and social interests. She serves as an independent director on the boards of Bandhan Financial Holdings Limited, Climate Policy Initiative and BASIX Consulting and Technology Services. Mritiunjoy Mohanty retired in September 2024 as a Professor of Economics at the Indian Institute of Management Calcutta, Kolkata. Outside of climate change, he is currently also researching the comparative growth trajectories of China and India and the nature and pattern of their integration into the global economy.
