Observer Research Foundation (ORF) put together a monograph on Shaping Our Green Future: Pathways and Policies for a Net-Zero Transformation. 1
They pulled together a fantastic set of perspectives from Mr. Jayant Sinha, The Fletcher Business School, Climate Policy Lab, MacArthur Foundation, Shakti Sustainable Energy Foundation, and NIIF. This is a timely publication – coming while COP26 is on at Glasgow, Scotland and when India has just committed to a Net-Zero target by 2070.
I co-authored, along with NIIF colleague, Anya Bharadwaj, a paper on Financing the Green Transition. Our article focusses on:
(a) the current financing landscape with the USD 100 bn a year commitments,
(b) the policy, tech, and social support required to facilitate green investments,
(c) the role that State and Market needs to play in making this happen – very different pools of capital need to come together, and
(d) the instruments that can be structured to marry finance with investments.
We also detail the case study of Green Growth Equity Fund (GGEF) which was seeded by NIIF which has grown to become the world’s largest single-country focused climate fund in emerging markets.
The summary introducing the compendium says:
Climate scientists have warned that the world must reach zero carbon emissions by 2050 if global average temperatures do not increase by more than 1.5 degrees Celsius and set off catastrophic changes to the climate. Many countries have set target dates for decarbonising their economies; India’s is 2070. What will this mean for the global economy? Can “net zero” be a net positive for Indian and global growth? And what are the development pathways that must be put into place in the next few years to turn this new climate ambition into a new, greener development paradigm? What are the changes to the multilateral architecture, to international regulation, and to local laws that must be undertaken if ambitious targets are to be achieved — or, indeed, exceeded? And how can we ensure that the transition is just and inclusive? This collection of essays and papers provides modelling and analysis that begin to answer some of these questions.
You will find the articles here insightful, thought-provoking, and action-oriented!
Read the entire monograph here (opens a pdf).
1 Mihir S Sharma and Mannat Jaspal, Eds., Shaping Our Green Future: Pathways and Policies for a Net-Zero Transformation, November 2021, Observer Research Foundation