Pioneering Climate Finance in India TCCL Helping India to Realize its Climate Goals

Climate Finance has always been viewed as a public sector initiative. India's ambitious plans were constrained by the inadequate capacity of such institutions to meet the agility, innovation, and deep understanding required to finance dynamic cleantech sector. TCCL has played an important role in mainstreaming of emerging sectors such as solar rooftop, energy efficiency, electric mobility, and water treatment. TCCL has been able to do this by developing a profound understanding of the rapidly evolving sector including technical, commercial, regulatory, contractual, and E&S expertise. In this succinct article, Manish Chourasia says about challenges to crowd-in capital from global north and role of TCCL in channelizing these funds.

- Manish Chourasia

Global warming is posing a real threat to the human life. According to the Intergovernmental Panel on Climate Change (IPCC), 1.5⁰C temperature rise would be the tipping point. Human activity-induced climate change has their origin in the industrialization era that started from the 1800s. But, the heightened spate of economic activity across advanced as well as newly emerged developing economies since the last three decades has accelerated emissions. To illustrate this with data, the planet had used only 32 per cent of the carbon budget until 1990. However, this doubled to 60 per cent within the last 30 years alone, leaving us with only 8 per cent of the carbon budget before circumstances become irreversible. Apart from emissions, land degradation, deforestation, waste discharges, extreme heat incidents and sea water rise have intensified in recent years.