You are here: Home » PTI Stories » National » News
Business Standard

Climate offers a $3.1-tln investment opportunity by '30: IFC

Press Trust of India  |  Mumbai 

The government plans to meet the climate targets under the Paris agreement represents a USD 3.1-trillion investment opportunities by 2030, says an IFC report.

The sectors where this investment would come in include renewable energy, green buildings, transport infrastructure, electric vehicles, and climate-smart agriculture, according to a report by the International Finance Corporation (IFC), a member of the World Bank Group.

The analysis is part of a regional study that examines the climate-investment opportunities in Bangladesh, Bhutan, India, the Maldives, Nepal and Sri Lanka.

These countries together represent 7.38 per cent of global carbon dioxide emissions, the report noted.

"The only way that the South Asian countries can take advantage of these climate investment opportunities is with a strong and engaged private sector," IFC chief executive Philippe le Hourou said in the report.

"We also need to have a comprehensive approach to creating markets for climate business in key sectors. That means putting in place the necessary policy framework, promoting competition, and building capacities and skillsets to open new markets," he added.

India, with a population of 1.3 billion, is the world's third-largest economy according to purchasing power parity, and with a large, young and growing labor force, the country is a significant market for the private sector.

IFC is strongly committed to supporting the private sector in the South Asia region. Since 2005, IFC has invested USD 2.6 billion of its own funds in long-term financing for climate-smart projects in South Asia and additionally mobilised almost USD 1 billion from other investors.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 30 2017. 16:30 IST
RECOMMENDED FOR YOU