Business · Energy & Commodities · 7 hrs ago
Green finance in India reaches $81.9 billion, concentrated in established sectors
Tracked green finance for emissions reduction in India reached $81.9 billion in 2023-24, up from $50 billion in 2021-22.
It covers areas such as renewable energy, energy efficiency, clean transport and electric vehicles.
Domestic and private sources provided 80% of tracked green finance in 2023-24.
Clean energy received more than half of mitigation funding, while energy efficiency and clean transport also attracted substantial shares.
But funding remains concentrated in established sectors and technologies, leaving newer areas with less support.
To widen investment, the report calls for clearer guidance, roadmaps and a climate finance taxonomy, as well as better information for lenders assessing newer technologies.
It also says that more private investment depends on a stronger pipeline of projects ready for investment.
India’s tracked finance for emissions reduction rose to $81.9 billion in 2023-24, up from $50 billion in 2021-22.
A Climate Policy Initiative report says finance remains concentrated in established sectors and technologies.
Domestic and private sources accounted for 80% of tracked green finance in 2023-24.
Clean energy drew $41.4 billion, more than half of tracked mitigation finance.
The report calls for guidance, roadmaps and a climate finance taxonomy to encourage funding for newer sectors and technologies.
- Who
- Climate Policy Initiative reported on green finance in India.
- What
- Tracked finance for emissions reduction reached $81.9 billion in 2023-24. The report says flows remain concentrated in established sectors and technologies.
- When
- The figures cover financial years 2022-23 and 2023-24; the reported increase compares 2021-22 with 2023-24.
- Where
- India.
- Why
- The report calls for guidance, roadmaps and a climate finance taxonomy to help direct finance beyond established sectors and technologies.
This story does not have two clearly opposing sides.
Green finance in India increased substantially, according to the report.
Tracked finance for emissions reduction stood at $50 billion.
Tracked finance for emissions reduction reached $81.9 billion, with domestic and private sources accounting for 80% of tracked green finance.
- Tracked mitigation finance
- $81.9 billion in 2023-24
- Previous tracked flow
- $50 billion in 2021-22
- Domestic and private sources
- 80% of tracked green finance in 2023-24
- Clean energy finance
- $41.4 billion
- Private capital share
- 68% of domestic mitigation finance in 2023-24
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What people are saying
creating a robust knowledge hub that provides adequate information that financiers and financial institutions can draw on while determining lending decisions for technologies that are yet to be established