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Green Finance for a Carbon-Neutral India: Opportunities, Challenges and Accelerating the Transition

In: Proceedings of the IBA IEA Conference on Economics and Public Policy (Ecofluence 2024)

Author

Listed:
  • R. Nithilaa

    (Mother Teresa Women’s University, PhD Research Scholar, Department of Commerce)

  • G. Indhumathi

    (Mother Teresa Women’s University, Assistant Professor, Department of Commerce)

Abstract

Green financing is crucial for India's transition to a low-carbon economy, given its significant carbon footprint due to a large economy and population of over 1.42 billion. With ambitious targets to reduce greenhouse gas emissions, India's Nationally Determined Contribution under the Paris Agreement aims to decrease its carbon intensity by 33–35 percent by 2030 compared to 2005 levels. Achieving carbon neutrality will require substantial changes in the energy, transportation, and industrial sectors, necessitating a surge in green finance and investment. This paper explore the role of green finance in India's low-carbon transition, focusing on three key aspects: understanding the relevance of green finance in reaching India's climate targets and transitioning to a low-carbon economy; assessing the efficacy of present green finance instruments and programs in India; and identifying the barriers and challenges preventing the widespread acceptance of green finance in the country. Through a conceptual analysis of green finance and its role in achieving carbon neutrality, this study examines the opportunities and challenges associated with this transition, utilizing secondary sources such as SEBI, Climate Bond Initiatives, and GRIHA over the past six years. The study also tabulates initiatives taken by government, public, and private stakeholders to promote the development of green finance in India.

Suggested Citation

  • R. Nithilaa & G. Indhumathi, 2025. "Green Finance for a Carbon-Neutral India: Opportunities, Challenges and Accelerating the Transition," Advances in Economics, Business and Management Research, in: Prashant Kulkarni & Subhash Sharma (ed.), Proceedings of the IBA IEA Conference on Economics and Public Policy (Ecofluence 2024), pages 95-112, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-766-3_6
    DOI: 10.2991/978-94-6463-766-3_6
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