The expert committee on climate finance submitted its first report on transition finance to the International Financial Services Centres Authority (IFSCA) chairperson

Mitigation of Climate Change
July | 2024

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Description

This report, responding to the Prime Minister's call for sustainable finance during India's G20 presidency, outlines a roadmap for the IFSCA to develop a climate finance ecosystem at Gujarat International Financial Tech-city (GIFT) International Financial Services Centres (IFSC), focusing on Transition Finance. Chaired by Shri Dhruba Purkayastha, the committee includes experts from various sectors. The report covers the scope and definition of Transition Finance, policy and regulation, and financial mechanisms and instruments, emphasizing investment in hard-to-abate sectors crucial for India's net-zero goal by 2070. The International Financial Services Centres Authority (IFSCA) will develop a framework based on these recommendations.