Scaling up climate finance for and in developing countries
TERI organized a side event at the UNFCCC meeting of the Subsidiary Bodies 48 (SB48) on scaling up climate finance for and in developing countries.
Mobilising and allocating climate finance at scale could be best achieved by a multi-pronged strategy that combines bottom-up (market-led) and top-down (regulation/policy-led) approaches to incentivise demand for green investment in different sectors. Within this framework, public -private collaboration could significantly help in designing an optimum pathway to mobilize green finance. At the same time, various sources of capital (grants, loans, bonds, risk mitigation products, equity, venture capital, other incentives) need to be combined creatively - blended finance, layered finance, fintech - to make the right kind of impact.
The event organised by TERI brought together actors and ideas from wide geographies and a range of institutions to delve upon ideas and opportunities to advance finance in sectors that cut across priority areas with high climate and social impact. While TERI shared experiences from India, it was joined by representatives from Indonesia and Argentina to share their experiences on measures that have worked or not worked in their respective countries on scaling up finances. At the event, TERI also disseminated its recently released publication on 'Unlocking Green Bonds in India'.
TERI's participation in the meeting was supported by Shakti Sustainable Energy Foundation and the work on the policy brief was supported by the Norwegian Ministry of Foreign Affairs.
- Enrique Maurtua Konstantinidis, FARN, Argentina
- Endah Tri Kurniawaty, Ministry of Environment and Forest, Indonesia
- Swati Agarwal, TERI, India
- Akash Deep, GRIHA Council, TERI, India
To view event recording click here