Indian Climate and Energy Leaders to Meet Global Investors in London
A group of Indian climate and energy transition leaders will gather in London from September 25-27, 2024, to engage in discussions with global investors and the international finance community. The event, organized by the Climate and Energy Transition Finance Initiative (CETFI), aims to mobilize significant global capital to drive sustainable development in India.
Key Figures and Goals
The delegation, led by UK Sinha, former Chairperson of the Securities and Exchange Board of India (SEBI), will include nearly 30 representatives from government, public, and private sectors. Sinha emphasized the importance of this event, stating, “This gathering comes at a very opportune time as India is poised to present a USD 5 trillion investment opportunity for its sustainable development over the next decade.”
Amitabh Kant, India’s G20 Sherpa, congratulated CETFI on its achievements and highlighted its ambitious goal to establish linkages with global capital markets and mobilize over USD 6 trillion by 2030. He noted that these advancements would be crucial for the Global South’s efforts to meet its Nationally Determined Contribution (NDC) targets under the Sustainable Development Goals (SDGs).
Event Highlights
Over the three-day event, Indian entities will present a wide array of projects to investors across various sectors, including renewable energy, green hydrogen, biofuels, water, waste management, sustainable transport, nature conservation, the built environment, and green manufacturing. These projects are listed in the CETFI-Register, a compendium of qualified climate projects for the global south accessible to investors worldwide.
India’s Climate Commitments
The Climate and Energy Transition Finance Initiative (CETFI) was established in November 2023. At COP26 in 2021, India committed to an ambitious five-part “Panchamrit” pledge, which includes reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tonnes by 2030. India also aims to reduce the emissions intensity of GDP by 45 percent and achieve net-zero emissions by 2070. Currently, 44 percent of India’s energy requirements come from non-fossil sources, a figure expected to rise to 65 percent by 2030.
Doubts Revealed
Climate and energy transition leaders -: These are important people in India who work on making the environment better and finding new ways to use energy that don’t harm the planet.
Global investors -: These are people or companies from different countries who have a lot of money and want to invest it in projects that can make more money or help the world.
London -: London is the capital city of the United Kingdom, a country in Europe.
Sustainable development -: This means making sure that we use resources in a way that doesn’t harm the environment and can be continued for a long time.
UK Sinha -: UK Sinha is a person who used to be the head of SEBI, which is an organization in India that looks after the stock market and protects investors.
SEBI -: SEBI stands for Securities and Exchange Board of India. It makes sure that the stock market in India is fair and safe for everyone.
Amitabh Kant -: Amitabh Kant is an important person in India who helps with big international meetings and projects. He is India’s G20 Sherpa.
G20 Sherpa -: A G20 Sherpa is a person who helps prepare for meetings of the G20, a group of 20 important countries that discuss global issues.
CETFI -: CETFI stands for Climate Energy Transition Finance Initiative. It is a group that works to get money for projects that help the environment and energy transition.
Global capital markets -: These are places where people and companies from all over the world buy and sell investments like stocks and bonds.
USD 6 trillion -: This is a very large amount of money, equal to 6,000,000,000,000 US dollars.
Renewable energy -: This is energy that comes from sources that don’t run out, like the sun, wind, and water.
Green hydrogen -: Green hydrogen is a clean fuel made using renewable energy, and it doesn’t produce pollution when used.
