3rd December 2024: India’s apex industry body for alternative assets, the Indian Venture and Alternate Capital Association (IVCA), hosted the IVCA GreenReturns Summit at the Taj Palace Hotel, New Delhi.
Shri Pradeep Ramakrishnan, Executive Director, International Financial Services Centres Authority (IFSCA), was joined by Annu Talreja (Founder & CEO, Accacia), Akshay Panth (Chief Investment Officer, Neev Funds), Karan Mohla (Partner, B Capital Group), Samir Shah (Managing Partner, Peak Sustainability Ventures), and Vivek Jain (Co-Founder & CBO, Stride Green). The panel was moderated by Kapil Bansal, Senior Partner, EY Parthenon where panellists discussed innovative strategies in scaling up climate adaptation investments during the panel discussions.
The IVCA GreenReturns Summit is envisioned as a key platform to initiate conversations and discussions focused on climate finance along with change-worthy investments. It builds an environment for holding meaningful discussions with different sets of stakeholders, investors, and policymakers, thereby creating opportunities for collaboration and strategic partnerships.
Speaking on the imminent need to increase climate adaptation investments, Shri CS Pradeep Ramakrishnan said, “One of the issues that the government has been very persistent about is to bring its own taxonomy. The gap between how much you need and how much you have is only increasing by the day—whether it is mitigation or adaptation. Finance, for example, if you look at energy and transport, they almost occupy 74% of how much is the money that is needed. So for that, there is a need for a proper policy. The green taxonomy for Indian listed companies is already there in the public domain, but what the Finance Minister declared is to have a green taxonomy for the entire country.”
For India to accumulate an investment of trillion dollars to win the battle against carbon emissions and climate change, economic feasibility has to be achieved by partnering with policymakers to establish plausible market frameworks. The summit aims to highlight the prospective climate investment potential in India and attract financial service professionals from the Global North, while also providing a platform for investors, corporates, and the government to initiate the conversations. It develops frameworks that can steer climate adaptation and resilience, improving flows of commercial and impact capital. In its rightful role, the summit explores solutions to these issues through policy, investments, regulations, and technology, creating delivery mechanisms for action in the Global South.
