Enhancing India’s Readiness to Climate Finance
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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/

shreyavishnoi
from shreyavishnoi More from this publisher
12.02.2016 Views

Enhancing India’s readiness to access and deliver international climate finance Table 4.2: Detailed Tier 1 & Tier 2 indicators for the Financial function of the framework Financial Function Tier 1 Indicators 1. National economy What are the key macroeconomic and financial characteristics of the national economy? 2. Investment in low carbon & climate resilient initiatives Is there a strong investment climate for low carbon and climate resilient initiatives – for both the public and private sectors? 3. Institutional management of climate finance Does the country have a strong institutional structure to manage domestic & international climate finance? 4. Institutional delivery of climate finance Does the country have a strong institutional structure to deliver climate finance through institutions that can act as NIEs? Tier 2 Indicators 1.1 What are the key macroeconomic indicators in the country? Has financial and macroeconomic performance impacted climate-related investment? 2.1 How established are low carbon options at present? Is there significant domestic or international investment in renewable energy, energy efficiency, and other low carbon technologies? 2.2 What is the mix of public and private investment in the key sectors that are affected by climate change/ part of the national response to climate change? 2.3 Have efforts been made in the past to support feasibility studies and develop 'bankable programmes'? If so, what was their scope, and what amounted from them Are there any insights into the reasons for their success or failure? 2.4 Have any efforts to address climate risk through finance been made by the private sector (e.g. insurance, etc.)? 3.1 Are there one or more institutions that manage domestic & international climate finance? 3.2 Does this institution(s) have the capacity to coordinate the delivery of climate finance, using a blend of sources (e.g. public and private) and instruments where necessary? 3.3 What experiences do institutions that can provide NIE type functions have in managing large international projects? 4.1 Are there one or more institutions that deliver international climate finance? 4.2 Do institutions that can provide NIE type functions easily meet international accreditation requirements and funds’ fiduciary, environmental and social standards? 4.3 Do institutions that can provide NIE type functions have experience delivering complex climate-related programming, including projects that involve private climate finance? 4.4 Do institutions that can provide NIE type functions have experience identifying climate risks, vulnerability, technological options appraisal, etc. to prepare the establishment of a pipeline of bankable projects? 4.5 Are there regional institutions that might also be well placed to deliver climate finance? Ref: Ricardo-AEA/R/ED59216/Final Report 25

Enhancing India’s readiness to access and deliver international climate finance Table 4.3: Detailed Tier 1 & Tier 2 indicators for the MRV function of the readiness framework MRV Function Tier 1 Indicators 1. MRV of domestic climate finance Are there systems and structures in place to conduct MRV of domestic public climate finance? Tier 2 Indicators 1.1 Have efforts been made to identify, track and report climate-related spending in the national budget? 1.2 Are public institutions able to track the impact (emissions, vulnerability reduction) of major domestic climate-related investments? 2. MRV of private climate finance Are there systems and structures in place to conduct MRV of private climate finance? 3. MRV of international climate finance Are there systems and structures in place to conduct MRV of international climate finance? 2.1 Have efforts been made to identify, quantify and report private investment in low carbon and climate resilient approaches? 2.2 Are private institutions able to track the impact (emissions, vulnerability reduction) of major climaterelated investments? 3.1 Have efforts been made to identify, quantify and report external (international) finance for low carbon and climate resilient approaches? 3.2 Have systems for measuring and reporting the impact (emissions, vulnerability reduction) of international climate finance been developed? Ref: Ricardo-AEA/R/ED59216/Final Report 26

<strong>Enhancing</strong> <strong>India’s</strong> readiness <strong>to</strong> access and deliver international climate finance<br />

Table 4.2: Detailed Tier 1 & Tier 2 indica<strong>to</strong>rs for the Financial function of the framework<br />

Financial Function<br />

Tier 1 Indica<strong>to</strong>rs<br />

1. National economy<br />

What are the key macroeconomic and<br />

financial characteristics of the national<br />

economy?<br />

2. Investment in low carbon & climate<br />

resilient initiatives<br />

Is there a strong investment climate for low<br />

carbon and climate resilient initiatives – for<br />

both the public and private sec<strong>to</strong>rs?<br />

3. Institutional management of climate<br />

finance<br />

Does the country have a strong institutional<br />

structure <strong>to</strong> manage domestic &<br />

international climate finance?<br />

4. Institutional delivery of climate<br />

finance<br />

Does the country have a strong institutional<br />

structure <strong>to</strong> deliver climate finance through<br />

institutions that can act as NIEs?<br />

Tier 2 Indica<strong>to</strong>rs<br />

1.1 What are the key macroeconomic indica<strong>to</strong>rs in the<br />

country? Has financial and macroeconomic<br />

performance impacted climate-related investment?<br />

2.1 How established are low carbon options at present? Is<br />

there significant domestic or international investment in<br />

renewable energy, energy efficiency, and other low<br />

carbon technologies?<br />

2.2 What is the mix of public and private investment in the<br />

key sec<strong>to</strong>rs that are affected by climate change/ part of<br />

the national response <strong>to</strong> climate change?<br />

2.3 Have efforts been made in the past <strong>to</strong> support feasibility<br />

studies and develop 'bankable programmes'? If so,<br />

what was their scope, and what amounted from them<br />

Are there any insights in<strong>to</strong> the reasons for their success<br />

or failure?<br />

2.4 Have any efforts <strong>to</strong> address climate risk through finance<br />

been made by the private sec<strong>to</strong>r (e.g. insurance, etc.)?<br />

3.1 Are there one or more institutions that manage<br />

domestic & international climate finance?<br />

3.2 Does this institution(s) have the capacity <strong>to</strong> coordinate<br />

the delivery of climate finance, using a blend of sources<br />

(e.g. public and private) and instruments where<br />

necessary?<br />

3.3 What experiences do institutions that can provide NIE<br />

type functions have in managing large international<br />

projects?<br />

4.1 Are there one or more institutions that deliver<br />

international climate finance?<br />

4.2 Do institutions that can provide NIE type functions<br />

easily meet international accreditation requirements and<br />

funds’ fiduciary, environmental and social standards?<br />

4.3 Do institutions that can provide NIE type functions have<br />

experience delivering complex climate-related<br />

programming, including projects that involve private<br />

climate finance?<br />

4.4 Do institutions that can provide NIE type functions have<br />

experience identifying climate risks, vulnerability,<br />

technological options appraisal, etc. <strong>to</strong> prepare the<br />

establishment of a pipeline of bankable projects?<br />

4.5 Are there regional institutions that might also be well<br />

placed <strong>to</strong> deliver climate finance?<br />

Ref: Ricardo-AEA/R/ED59216/Final Report<br />

25

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