India is wooing private investors to contribute to clean initiatives such as renewable energy, green buildings and electric vehicles to meet its ambitious targets under the Paris Agreement even as finance from developed countries seems to dry up, the government has said.
“There is a strong linkage between economy and climate, we are working with a balanced approach,” Suresh Prabhu, Union minister of commerce and industry, said in his address to the Climate Business Forum, organised by the International Finance Corporation (IFC).
An IFC analysis shows India will need $3.1 trillion in private investment between 2018-2030 to meet its emissions targets. The IFC is a Washington-DC based organisation that helps the private sector secure access to markets and financing in developing countries. Read More…
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