NABARD unveiled its Climate Strategy 2030 document on the occasion of Earth Day.

The document was released by Shaji K V, Chairman NABARD. This comprehensive strategy aims to address India’s escalating need for green financing.

Despite the pressing demand, where India requires approximately US$ 170 billion annually to reach a cumulative total of over US$ 2.5 trillion by 2030, current green finance inflows are critically insufficient.

As of 2019-20, India garnered about US$ 49 billion in green financing, merely a fraction of what is needed. With the majority of funds earmarked for mitigation, only US$ 5 billion was allocated towards adaptation and resilience, reflecting the minimal private sector engagement in these areas due to challenges in bankability and commercial viability.