Page 307 - Low Carbon Development in China and India
P. 307
Multilateral climate funds in India are anchored in the Ministry of
Environment, Forest and Climate Change, Government of India, with
the United Nations Development Programme (UNDP) and the World
Bank being key implementing agencies.
Figure 2.3 Architecture of international climate finance
Source: http://www.climatefundsupdate.org/about-climate-fund/global-finance-architecture
Multilateral funds such as the Clean Technology Fund have been
operational in India. The Ministry of Environment, Forest and Climate
Change lists four supply side initiatives for Phase I financing under the
Clean Technology Fund; these include:
• Himachal Pradesh: Development Policy Loan on Environmental
Sustainability and Climate Change
• Support for the National Mission for Enhanced Energy Efficiency
(NMEEE)
• Partial Risk Guarantee for Energy Efficiency Technologies
• Support to the Jawaharlal Nehru National Solar Mission (JNNSM)
It can be seen that one initiative is also at the sub-national level while
the other three are inclined towards the missions under the National
Action Plan on Climate Change (NAPCC). International finance in
climate and sustainability areas have sought to leverage and attract
private finance. However, according to Climate Funds Update, as of
the beginning of 2012, globally, for every USD 1 spent between 2010
and 2012, only USD 0.25 of private finance had been drawn. In terms of
272 Low Carbon Development in China and India
Environment, Forest and Climate Change, Government of India, with
the United Nations Development Programme (UNDP) and the World
Bank being key implementing agencies.
Figure 2.3 Architecture of international climate finance
Source: http://www.climatefundsupdate.org/about-climate-fund/global-finance-architecture
Multilateral funds such as the Clean Technology Fund have been
operational in India. The Ministry of Environment, Forest and Climate
Change lists four supply side initiatives for Phase I financing under the
Clean Technology Fund; these include:
• Himachal Pradesh: Development Policy Loan on Environmental
Sustainability and Climate Change
• Support for the National Mission for Enhanced Energy Efficiency
(NMEEE)
• Partial Risk Guarantee for Energy Efficiency Technologies
• Support to the Jawaharlal Nehru National Solar Mission (JNNSM)
It can be seen that one initiative is also at the sub-national level while
the other three are inclined towards the missions under the National
Action Plan on Climate Change (NAPCC). International finance in
climate and sustainability areas have sought to leverage and attract
private finance. However, according to Climate Funds Update, as of
the beginning of 2012, globally, for every USD 1 spent between 2010
and 2012, only USD 0.25 of private finance had been drawn. In terms of
272 Low Carbon Development in China and India
