India’s climate-smart investment potential in key sectors is estimated to be more than $3 trillion from 2018 to 2030. Raising financial resources for climate change adaptation and mitigation actions of this scale is not an easy task, thus both public and private sector need to come together to respond to this challenge. As India’s financial sector evolves, it needs to consider embedding green imperative in its investment decisions. The role of financial institutions is central to India’s transition to a green economy and presents a case for actors in both the financial markets and banks to develop new financial instruments that will deliver both investible returns and environmentally positive outcomes.
On February 25, 2021, IFC hosted a two-hour webinar on Green Banking Transformation for financial institutions in India. This webinar provided an overview of IFC’s Green Commercial Bank Framework for financial institutions, shared IFC’s client experience from Asia and provided insights on the role of financial regulators and financial institutions in India’s transition towards green banking.