BFSIMarkets & Economy

Greening the Union Budget: Reality or Distant Dream?

By Namita Vikas, Founder and Managing Partner, auctusESG

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  1. Timely article highlighting the critical challenge Namita!
    Globe is currently changing gears and is ‘en route’ to walking the talk in expanding the footprints of Global Finances to ESG and Sustainable Development Goals.
    Soon ESG and Sustainability are not just one more ‘box’……but ‘the box’ that needs to be ticked.
    India HAS a big role to play in the Sustainable/Renewable growth about to explode. A Bank with Sustainable Finance as its Focus is a much needed platform for India to integrate with the global shifts.
    Your recommendations are in the right direction.
    Well done.

  2. Congratulations Namita on this well thought out and succinct blueprint for actions the government and RBI could take. In the UK the Green Investment Bank provided a centre of excellence where finance professionals expert in assessing new technologies like off-shore wind helped the industry take-off. A Bank of Sustainable Finance (perhaps adapting the mandate of an existing institution like IREDA) could provide an excellent boost for technologies like green-hydrogen to decarbonise India’s steel and fertiliser sectors.

    The RBI is already undertaking thoughtful work on climate risk, particularly examining impacts on food inflation, but the elephant in the room is FI exposure to coal-finance which will soon become stranded if solar and wind (plus storage) takes away their markets.

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