CII-ITC Centre of Excellence for Sustainable Development reposted this
"At the G20 in Brazil, a positive development was that the leaders reaffirmed their commitment to climate change on a multitude of issues. At #COP29, a funding of 300 billion dollars every year till 2035 was proposed but rejected by the developing world because the requirements are in trillions and not in billions. India itself requires much more, and globally we need 3.5 trillion dollars by 2050 to get to the net-zero economy. In this backdrop, some important points to consider are: availability of finance at this magnitude, creating the right taxonomy, accessibility of technology, and pivotal role of financial instruments that can projects more viable," said Mr Sanjiv Puri, President, Confederation of Indian Industry (CII), India and Chairman & Managing Director, ITC Limited India at the plenary session on 'Collaborative Climate Solutions: Bridging Clean Technology and Finance' at the 29th CII Partnership Summit held in New Delhi today. The session was attended by: Mr Prashant Kumar Singh, Secretary, Ministry of New and Renewable Energy (MNRE), Government of India Prof Tetsuya Watanabe, President, ERIA: Economic Research Institute for ASEAN and East Asia Mr Jan Teichmann, Senior Vice President and President-APAC, Fluence Energy, USA Mr Niro Somasekeran, Head of Resources, Energy & Infrastructure International & Corporate Finance South & Southeast Asia, ANZ, Singapore
