“Green finance has been majorly skewed towards renewable energy”

C.K. MISHRA, former secretary in the Ministry of Environment, Forest & Climate Change, and Chairperson, Expert Committee on Sustainable Finance, in an interaction with Annurag Batra, Editor-in-Chief, BW Businessworld, talks about India’s strategy to mitigate the impact of climate change and how stakeholders from different industries are helping formulate policies for a greener future. Excerpts

Following our bold commitments made during the CoP26 Conference, do you think India has the required capacities to achieve its climate change goals in a timebound manner?

I think India has already initiated its plan since the Paris agreement of 2015. Yes, the commitments made during CoP26 are bold and will definitely require tremendous amount of technological and financial resources to successfully implement the climate change goals. We are actively working towards drafting a plan that measures if adequate financial support is being provided in this area. Additionally, we need to focus on sectors that require a tremendous amount of in-house technological innovation in order for them to deliver on India’s commitments.

What are the efforts the government of India taking or ones that should be taken with regard to the goals that have been laid down under Panchamrita?

An issue like climate change should be treated as a holistic societal responsibility. The government of India aims to provide an enabling environment that promotes green activities and green projects. The government should enable financing capabilities for certain projects, provide incentives, and draft policies that support the implementation of such projects. But climate change is not only the responsibility of the government but also of the private sector and the citizens at large. Citizens need to reflect on their choices that lead to an increase in emissions. People also need to take charge and spread the right kind of message and awareness regarding climate change.