Landscape of Green Finance in India

The report 'Landscape of Green Finance in India' by the Climate Policy Initiative analyzes green finance flows in India for FY 2019-20, focusing on climate mitigation and adaptation. It finds that while green finance flows increased by 150% between FY 2017/18 and FY 2019/20, the total of INR 309 thousand crores per annum remains significantly below the estimated INR 11 lakh crores per year required to meet India's Nationally Determined Contributions (NDCs).

• Tracked green finance in India for FY 2019-20 was INR 309 thousand crores (approximately USD 44 billion) per annum, which is less than 25% of the estimated annual requirement of INR 11 lakh crores (USD 170 billion) needed to achieve the country's NDCs by 2030.
• Green finance flows grew by 150% from FY 2017/18 to FY 2019/20, with public sector flows increasing by 179% and private sector flows by 130%.
• Domestic sources provided the vast majority of green finance, accounting for 87% in FY 2019 and 83% in FY 2020. Within domestic sources, the private sector contributed approximately 59% (INR 156.9 thousand crores).
• International finance's share rose from 13% in FY 2019 to 17% in FY 2020. Public sources, including Official Development Assistance (ODA) and Other Official Flows (OOF), made up 60% of this international finance over the two-year period.
• Mitigation funding was primarily split between clean energy (42%) and energy efficiency (38%), with clean transportation receiving 17%. Solar projects were the largest recipient within clean energy, receiving INR 54 thousand crores over 2019/2020.
• Clean transportation funding was 96% public, with the Mass Rapid Transit System (MRTS) accounting for over 87% of the sector's total fund flow. Electric vehicle (EV) investments grew by 80% in FY 2020 but still represent less than 1% of total clean transport flows.
• Energy efficiency finance was 91% private and increased by 26% from FY 2019 to FY 2020. However, funding for green buildings and process efficiency dropped by 81% and 83% respectively in FY 2020.
• Adaptation finance was tracked at INR 37 thousand crores (USD 5 billion) per annum for FY 2019/20, with 94% coming from domestic Central and State government budgets. Flood and cyclone mitigation received the highest share at 66% of total adaptation flows.
• Debt was the primary financial instrument, averaging INR 152 thousand crores (USD 43 billion) per year, representing 49% of total tracked green finance.
• The report identifies critical gaps in data and policy, recommending the development of a green taxonomy, an integrated domestic Measurement, Reporting and Verification (MRV) system, and standardized disclosure requirements to reduce information asymmetry.

APA

Khanna, N., Purkayastha, D., & Jain, S. (2022). Landscape of Green Finance in India. Climate Policy Initiative. https://www.climatepolicyinitiative.org/wp-content/uploads/2022/08/Landscape-of-Green-Finance-in-India-2022-Full-Report.pdf

Chicago

Khanna, Neha, Dhruba Purkayastha, and Shreyans Jain. Landscape of Green Finance in India. Climate Policy Initiative, 2022. https://www.climatepolicyinitiative.org/wp-content/uploads/2022/08/Landscape-of-Green-Finance-in-India-2022-Full-Report.pdf.

Wikipedia

{{cite report |last1=Khanna |first1=Neha |last2=Purkayastha |first2=Dhruba |last3=Jain |first3=Shreyans |title=Landscape of Green Finance in India |publisher=Climate Policy Initiative |date=August 2022 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2022/08/Landscape-of-Green-Finance-in-India-2022-Full-Report.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{khanna2022landscape, author = {Khanna, Neha and Purkayastha, Dhruba and Jain, Shreyans}, title = {{Landscape of Green Finance in India}}, institution = {Climate Policy Initiative}, year = {2022}, month = aug, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2022/08/Landscape-of-Green-Finance-in-India-2022-Full-Report.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }