The Climate Conference 2024, themed “Decoding the Green Transition for India,” was held in Mumbai, Maharashtra on January 12, 2024. It brought together thought leaders, policymakers, and stakeholders from various sectors. A press release on the conference was issued by the organiser, the Ministry of Environment, Forest and Climate Change (MOEFCC).
The conference delved into all aspects of India’s climate action plan, with a keen focus on the role of the private sector, climate tech startups, and institutional investors. The event was held under the Green Climate Fund Readiness Programme with UNDP India as the Delivery Partner and Avaana Capital as the Knowledge Partner.
The conference aimed at mobilizing financial resources and technical capabilities to bolster government initiatives. The Secretary, MoEFCC, set the tone by addressing the global impact of extreme climate events, stressing the urgency for immediate action, planning, and financial mobilization. She highlighted the Ministry’s initiatives, including the innovative Green Credits Programme and the reinvention of ECOMARK labeling under the Lifestyle for Environment (LiFE) concept.
She also emphasized the importance of insurance, risk mitigation, and the mainstreaming of climate startups into viable business models. Key actions such as biomass utilization and waste management were underscored as significant contributions to climate action.
The G20 Sherpa in his address, outlined the emerging challenges of industrialization, urbanization, and growth in India. He underscored five critical areas – renewable energy, energy storage, electric mobility, energy efficiency, and the circular economy. He emphasized the promotion of energy efficiency in micro, small, and medium enterprises (MSMEs) for cost savings and increased competitiveness. The role of multilateral development banks (MDBs), international financial institutions (IFIs), and philanthropists in supporting high-risk climate projects was highlighted.
The conference spotlighted India’s roadmap to achieving net-zero by 2070, focusing on green transition investments. The discussions explored climate finance landscapes in India, involving government bodies, venture capitalists, corporates, and industry leaders. Strategies to boost financing in the climate-tech ecosystem were a key focus, emphasizing emerging solutions with disruptive potential. The event also shed light on sustainability-linked funds, risk-sharing facilities, and concessional financing.
In essence, the Climate Conference 2024 served as a dynamic platform for diverse stakeholders to collaborate and foster partnerships. The aim is to advance the development and adoption of sustainable, climate-resilient technologies and practices, ensuring a socially just and inclusive transition towards a greener future for India.
