Mumbai, Maharashtra witnessed the Climate Conference 2024 on January 12, 2024, organized by the Ministry of Environment, Forest and Climate Change, Government of India. Themed “Decoding the Green Transition for India,” the event focused on the integral role of the private sector, climate tech startups, and institutional investors in mobilizing financial resources and technical capabilities. The conference aimed to leverage government initiatives, involve civil society and communities, and promote innovative climate services and adaptation technologies.
Key dignitaries present at the inaugural session included Ms. Leena Nandan, Environment Secretary, Mr. Amitabh Kant, G20 Sherpa, Mr. K Rajaraman, Chairman, IFSCA, Mr. Mike Hankey, U.S. Consul General, and Mr. Nadir Godrej, Chairman & MD, Godrej Industries, and Chairman, Godrej Agrovet.
Ms. Leena Nandan, Secretary, MoEFCC, highlighted the global impact of extreme events due to climate change, emphasizing the need for immediate action, planning, and finance mobilization. She shared the Ministry’s actions, including the Green Credits Programme, and emphasized the importance of insurance and risk mitigation. Ms. Nandan stressed the mainstreaming of climate startups and the significance of actions like biomass utilization and waste management for effective climate action.
Shri Amitabh Kant addressed emerging issues in India such as industrialization, urbanization, and growth. He highlighted five critical areas: renewable energy, energy storage, electric mobility, energy efficiency, and the circular economy. Emphasizing the promotion of energy efficiency in micro, small, and medium enterprises (MSMEs), Shri Kant highlighted the role of various financial institutions in supporting high-risk climate projects. He proposed a combination of public and private funds for attracting substantial capital and emphasized the potential of green hydrogen and storage systems.
The conference underscored India’s commitment to achieving net-zero by 2070 and emphasized green transition investments to transform energy systems, reduce CO2 emissions, conserve natural resources, increase biodiversity, and enhance climate resilience. Discussions delved into the current landscape of climate finance in India, exploring the roles of government, venture capitalists, corporates, and industry leaders. Strategies to boost financing in the climate-tech ecosystem were discussed, emphasizing emerging solutions with disruptive potential.
The event highlighted Sustainability linked funds, risk-sharing facilities, and concessional financing. Overall, the Climate Conference 2024 served as a platform for diverse stakeholders to collaborate and partner in the development and adoption of sustainable, climate-resilient technologies and practices. The discussions aimed to foster a collective effort towards achieving India’s climate goals.
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