The TERI Expert Group on Financing India’s Long-Term Low Carbon Development Strategies (LT-LCDS) convened a high-level roundtable, hosted in association with the World Trade Center Mumbai, and the All India Association of Industries (AIAI).

The event brought together key stakeholders from financial and industrial landscape, including officials from the Reserve Bank of India, SEBI, Axis Bank, Tata Cleantech Capital Limited, Nippon Steel, and The World Bank. The dialogue highlighted the need for policy alignment and innovative financing mechanisms to address the financing challenges critical to enabling India’s transition to a low-carbon economy. 

Highlights from the Roundtable:

• Investor Assurance Measures:
  SEBI's Executive Director, Mr. Pramod Rao, highlighted the introduction of Business Responsibility and Sustainability Report (BRSR) Core for top-listed companies, mandating third-party assessments. He also emphasized new instruments like green, blue, yellow, and transition bonds to diversify financing options for decarbonization projects.
• MSME Sector Challenges:
  Dr. Vijay Kalantri, Chairman of WTC Mumbai, underlined MSMEs' financial needs for adopting green technologies, including ₹17,000 crore for energy-saving measures and ₹72,000 crore for rooftop solar. He urged for credit enhancements and guarantees to help MSMEs raise green bonds at competitive rates.
• Innovative Financing Models:
  Mr. Chetankumar Sangole suggested collaborative SPVs between industry and government, cluster-based financing, supply chain-linked frameworks, and green regulatory measures like green taxonomy and public procurement norms.
• Green Financing Roadmap:
  Participants called for regulatory support, targeted investments, and multilateral aid to decarbonize hard-to-abate sectors like steel and cement while advocating green finance for MSMEs to adopt energy-efficient practices.

The roundtable reaffirmed India's commitment to aligning economic activities with its net-zero goals for 2070, emphasizing coordinated efforts, tailored policies, and innovation to support sustainable growth. The discussions will inform actionable strategies ahead of COP29 in Baku.