A group of Indian climate and energy transition industries will gather in London for a series of discussions with global investors and the international finance community, addressing the world’s efforts to combat climate-related issues. The event, organized by the Climate and Energy Transition Finance Initiative (CETFI), is scheduled for September 25-27, 2024, and aims to attract substantial global capital to support sustainable development in India.
According to CETFI, the delegation will consist of around 30 members from government, public, and private sectors, led by UK Sinha, former Chairperson of the Securities and Exchange Board of India (SEBI).
Sinha noted the event’s significance, stating, “This gathering is timely as India is set to present a USD 5 trillion investment opportunity for its sustainable development over the next decade.” He also emphasized its importance for the Global South, particularly under the South-South initiative.
Amitabh Kant, India’s G20 Sherpa, congratulated CETFI on its progress, saying, “CETFI has set an ambitious goal to link with global capital markets and mobilize over USD 6 trillion by 2030, supporting the Global South in achieving its Nationally Determined Contribution (NDC) targets under the Sustainable Development Goals (SDGs).” He added that these advancements will be crucial in the upcoming COP and G20 meetings, highlighting the need for a shift in climate finance strategies.
During the three-day event, Indian representatives will showcase a diverse range of projects to investors in sectors such as renewable energy, green hydrogen, biofuels, water, waste management, sustainable transport, nature conservation, the built environment, and green manufacturing. These projects are listed in the CETFI-Register, a collection of qualified climate projects for the global south available to investors worldwide.
The Climate and Energy Transition Finance Initiative (CETFI) is a multi-stakeholder alliance formed in November 2023.
At COP26 in 2021, India committed to a five-part “Panchamrit” pledge, including achieving 500 GW of non-fossil electricity capacity, deriving half of all energy from renewables, reducing emissions by 1 billion tonnes by 2030, lowering the emissions intensity of GDP by 45%, and reaching net-zero emissions by 2070. Currently, about 44% of India’s energy comes from non-fossil sources, with expectations to rise to 65% by 2030, surpassing the country’s initial COP pledge.
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