Enhancing India’s Readiness to Climate Finance
India has taken several steps to improve its national response to climate change. India’s climate finance requirements, however, are very high, and will need to be met through a combination of public, private and international climate finance. See more at: http://shaktifoundation.in/
India has taken several steps to improve its national response to climate change. India’s climate finance requirements, however, are very high, and will need to be met through a combination of public, private and international climate finance. See more at: http://shaktifoundation.in/
Enhancing India’s readiness to access and deliver international climate finance 1.2 Are public institutions able to track the impact (emissions, vulnerability reduction) of major domestic climate related investments? DFIs can track the emissions impact of individual programmes, but do not have the mandate, capacity or coverage to do so on a broader level • DFIs such as IREDA, SIDBI, and NABARD can track the emissions and resultant emissions reduction of specific programmes. • There is a growing trend of using indicators such as investments/ton of CO 2 reduction for evaluating low carbon projects for investments • However there is limited tracking of the emissions impact of national programmes. DFIs don’t have the mandate, coverage, and capacity to holistically track the emissions reduction impact of their large programmes. • Estimating the impact of programmes/projects on vulnerability is not widely carried out – and is mainly conducted by public science institutes. 1.5 2. MRV of private climate finance Are there systems and structures in place to conduct MRV of private climate finance? 2.1 Have efforts been made to identify, quantify and report private investment in low carbon and climate resilient approaches? There has been no systematic effort to track and quantify private sector CF in India. Individual studies on private sector CV have been limited to RE • There have been some market studies which capture information on RE or clean tech finance. However these reports are limited in scope. 1 2.2 Are private institutions able to track the impact (emissions, vulnerability reduction) of major climate related investments? The private sector has the capacity to track and quantify impact of mitigation programmes only. However this has only been done on a project-by-project basis, and has not been applied more broadly • A few clean tech focussed private funds track emissions and emissions reduction through their investments. However these funds are limited in numbers, which means estimates don’t cover all investments in India. 1 • Due to the success of the CDM in India, the private sector has strong capacity to estimate emission reductions. • There is no known work done by the private sector to assess climate change vulnerability. 3. MRV of international climate finance Are there systems and structures in place to conduct MRV of international 3.1 Have efforts been made to identify, quantify and report external (international) finance for low carbon and climate resilient approaches? International flows in India are not systematically tracked and reported • Some studies have been initiated recently to track and quantify international climate finance. However as of now not much information is available and international flows are not systematically being tracked by the GoI. 1 Ref: Ricardo-AEA/R/ED59216/Final Report 89
Enhancing India’s readiness to access and deliver international climate finance climate finance? 3.2 Have systems for measuring and reporting the impact (emissions, vulnerability reduction) of international climate finance been developed? MRV systems have only been put in place for individual projects in order to meet donor requirements, and have not been applied systematically. None of these systems cover vulnerability reduction • DFIs such as IREDA, SIDBI, and NABARD track the emissions and resultant emissions reduction through climate change programmes which are funded by international climate finance. • Systems exist to measure and report emissions reductions from multilateral investments (e.g. GEF, CTF) and bilateral funding (e.g. KFW, JICA). These systems are not uniform, but rather are individually designed for the project or programme being MRV-ed. • MRV systems only track emissions estimates and not vulnerability reduction. 1.5 Ref: Ricardo-AEA/R/ED59216/Final Report 90
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<strong>Enhancing</strong> <strong>India’s</strong> readiness <strong>to</strong> access and deliver international climate finance<br />
climate finance? 3.2 Have systems for measuring<br />
and reporting the impact<br />
(emissions, vulnerability<br />
reduction) of international<br />
climate finance been<br />
developed?<br />
MRV systems have only been put in place for individual projects in order <strong>to</strong> meet<br />
donor requirements, and have not been applied systematically. None of these<br />
systems cover vulnerability reduction<br />
• DFIs such as IREDA, SIDBI, and NABARD track the emissions and resultant emissions<br />
reduction through climate change programmes which are funded by international climate<br />
finance.<br />
• Systems exist <strong>to</strong> measure and report emissions reductions from multilateral investments<br />
(e.g. GEF, CTF) and bilateral funding (e.g. KFW, JICA). These systems are not uniform, but<br />
rather are individually designed for the project or programme being MRV-ed.<br />
• MRV systems only track emissions estimates and not vulnerability reduction.<br />
1.5<br />
Ref: Ricardo-AEA/R/ED59216/Final Report<br />
90
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