Climate Finance

RBI Releases Guidelines To Banks For Acceptance Of Green Deposits

The Reserve Bank of India (RBI) has issued a dedicated set of guidelines to the Indian banks and Non-Banking Financial Institutions (NBFCs) for accepting green deposits effective June 1, 2023. The move will likely boost the country’s financing of renewable energy projects. As per the mandate of the RBI, the financial institutions will extend the […]

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ICRIER Report Bats For Establishing Green State Investment Banks For Clean Tech Financing 

A latest Policy Paper released by the International Council for Research on International Economic Relations (ICRIER), a think-tank on Clean Energy Finance, batted for establishing a green state investment bank (SIB) to finance new clean energy technologies. The think tank released the paper ahead of the G-20 meeting in India to attract its stakeholders on […]

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Norway Allocates $1.2 bn for RE Projects in Developing Nations

The Norwegian government has announced the allocation of $1.16 billion over five years for a new fund that will invest in renewable energy in developing countries with the aim of reducing greenhouse gas emissions. Speaking about the new fund, Minister of International Development Dag-Inge Ulstein said, “It is part of the solution to some of […]

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MDPs Committed Climate Finance Worth $66 B in 2020: Joint Report

According to the recently published 2020 Joint Report on Multilateral Development Banks’ Climate Finance, climate finance committed by major multilateral development banks (MDBs) rose to a total of $66 billion last year from $61.6 billion in 2019, of which, 58%—or $38 billion—was committed to low- and middle-income economies. The total climate cofinance committed during 2020 […]

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IFC Eclipses $10 bn in Climate Finance Investments Since 2006

IFC has surpassed USD 10 billion in climate finance investments in financial institutions in emerging markets since 2006. IFC, a member of the World Bank Group, has announced that it has surpassed USD 10 billion in climate finance investments in financial institutions in emerging markets since 2006, a milestone that reflects the Corporation’s commitment to […]

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ADB Secures GCF Funding for Innovative Climate Finance Fund in China

GCF has approved $100 mn in funding for an ADB project in Shandong province in China to mobilise financing for climate change mitigation and adaptation. The Green Climate Fund (GCF) has approved USD 100 million in funding for an Asian Development Bank (ADB) project in Shandong province in the People’s Republic of China (PRC) that […]

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AfDB Pledges $25 Bn to Climate Finance For 2020-25

Key Bank projects include the co-financing of the 510 MW Ouarzazate Solar Complex in Morocco, one of the largest solar complexes in the world. The African Development Bank will double its climate finance commitments for the period 2020-2025, the Bank’s President announced at the One Planet Summit taking place in Nairobi. Akinwumi A. Adesina said […]

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IIED Shows New Ways To Channel Climate Funds To Meet Paris Agreement

The latest research by IIED released at the One Planet Summit in Nairobi makes a strong case for ways that climate money could be used to actually make an effect on climate change. The One Planet Summit is hosted by French President Emmanuel Macron and Kenya’s President Uhuru Kenyatta in Nairobi, today to help accelerate and […]

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EBRD Devoted 36% to Green Financing in 2018

It is well on the way to meeting a target of dedicating 40 per cent share of investments to the green economy by 2020. The European Bank for Reconstruction and Development (EBRD) has devoted 36 per cent of its total investments to the green economy in 2018. The bank said in a statement that, it […]

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