This chapter focuses on the evolution of the concept of climate finance in India, reviews India’s current efforts at mobilizing finance for mitigation and adaptation from various sources, analyses the major drivers behind the flow of such funds, and discusses institutional arrangements around climate finance and their implications.
The chapter discusses difficulties in estimating India’s climate finance flow and needs, driven in part by lack of clarity on what counts as climate finance. Although India has been able to leverage funds from a variety of sources, the quantum of funds is inadequate, given the large requirements. The key challenge will be to coordinate these multiple actors and channels of climate finance, and enable them to integrate with larger policy processes in order to secure and deliver climate finance that serves India’s interests and is truly transformational in its impact.
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