Climate Finance in India 2023

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Abstract

This report takes stock of the current climate finance landscape in India, along with the estimated financing requirements, enabling conditions and macro policy instruments to achieve national 1.5oC and 2oC goals. Climate change will negatively affect India’s economy leading to annual Gross Domestic Product (GDP) loss of 3 per cent to 10 per cent by 2100 (Kompas et al., 2018; RBI, 2023). In a business-as-usual scenario, India is estimated to face GDP per capita loss of 2.6 per cent, 6.7 per cent and 16.9 per cent in 2030, 2050, and 2100 respectively (Kahn, 2019).