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Economic Survey: Almost all of India’s climate finance needs being met domestically, but not enough
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The Indian Express
Lamenting the continued lack of international financial support for climate action in developing countries, India on Thursday said domestic financial resources were proving insufficient for its investment requirements for green transition.
The Economic Survey presented to Parliament on Thursday said global capital markets were flush with funds, but very little money was being directed for climate action.
And even that was being predominantly invested in developed countries or China.
Developing countries, excluding China, were getting just about 15 per cent of international climate finance, it said.
“The core challenge is not a shortage of global capital, but a structural misalignment between abundant liquidity and risk appetite,” the Survey said.