The Centre for Sustainable Finance was launched by the Climate Policy Initiative, India on April 26, 2023, at Hotel Trident, Bandra Kurla Complex, Mumbai. During the event, Shubhashis Dey, Director Climate Policy and Climate Finance, Shakti, participated in a panel discussion ‘Increasing Green Finance: From ambition to action’. The panel discussed on how green finance in India can be increased to mitigate the impacts of climate change and build resilience among communities while addressing our developmental priorities.
The panel further deliberated on the role of policy, industry and philanthropies in mainstreaming green finance in India. “It’s a question worth considering whether policy follows markets or markets follow policy. This varies across different regions and countries. In EU, for example, the ESG and sustainable markets came up and policy was created (and continues to be created) to create guardrails. In the Indian ecosystem, this has been quite the opposite where markets have followed policy signals”, said Shubhashis Dey.