India sees encouraging rise of green finance
By Sapna Gopal
In times when there’s constant emphasis on sustainable practices and a conscious need for adopting cleaner energy, the role of finance has grown significantly over the past few years.
With about 1.2 billion more people expected to live in Asian cities in 35 years, the cities have the potential to attract more than USD 20 trillion in climate-related investments in six key sectors by 2030, according to a recent report by International Finance Corporation.
“With its plans, policies and projects, the Asia Pacific region has the highest climate smart investment potential of any region in the world, with by far the biggest opportunity in green buildings, estimated at a $17.8 trillion opportunity by 2030,” the report said.
In the Asia Pacific region, the investment potential in green buildings is USD 17.8 trillion; in waste USD 104 billion; public transport USD 352 billion; renewable energy USD 407 billion; climate-smart water USD 571 billion and electric vehicles USD 783 billion, the report estimates.
Photo courtesy of Pavel Ahmed.