31/03/2022
Webinar on Financing of Green and Climate Resilient Investments / Activities by Banks and FIs - Issues, strategies and way forward
Centre for Climate Change (CCC), BIRD, Lucknow organised an online Webinar on “Financing of Green and Climate Resilient Investments / Activities by Banks and FIs - Issues, strategies and way forward” on 25 March 2022. The webinar was chaired by Dr. G.R. Chintala, Chairman, NABARD.
During his Welcome Address, Shri Shankar A. Pande, Director, BIRD, Lucknow welcomed the panellists and participants and observed that as India is highly vulnerable to climate change, there is a need to develop new skill sets to appreciate the climate related risks and opportunities. He pointed out that in order to address the climate related issues, Banks and other Financial Institutions need to have a re-look into their existing portfolio and develop appropriate climate resilient responses. Outlining the objectives of the Webinar, he hoped that an interaction between the various stakeholders – both regulators and practitioners from various sectors would lead to cooperation and collaboration in this sphere.
Dr G R Chintala, Chairman, NABARD appreciated BIRD and CCC for organising the Webinar on one of the most relevant themes, which could foster cross learnings through awareness creation and help evolve strategies for developing climate appropriate products. During his Inaugural address, Chairman observed that while climate change is a phenomenon which has been repeating itself across the historical past, globally the responses have been varied and generally not evaluated in monetary terms. Stressing the need to evaluate the differential impact of climate change on various types of assets across regions, Chairman highlighted the need to develop innovative approaches to offset the adverse impact of climate change.
Addressing the issue of the absence of a common definition for Green Finance, Chairman shared NABARDs experiences in developing a number of climate resilient mechanisms and highlighted the need for focussing on key areas such as creation of moisture security, making farming profitable and the need for adoption of Integrated Farming System (IFS) approaches.
The inaugural session was followed by a presentation on a study taken up by BIRD. Thereafter the panel discussion with eminent panelists from Regulators, banking institutions and other major stakeholders was taken up. Sh. Brij Raj, GM, Reserve Bank of India was the lead speaker and set the template for the discussions. He spoke at length about the regulatory initiatives taken up by RBI and highlighted the importance of climate change and the priority towards creating an enabling regulatory approach towards green and climate resilient financing.
The other panelists included Shri Manish Chourasia, MD, TATA Cleantech Capital Ltd.; Dr Malini Balakrishnan, Senior Fellow, TERI; Shri A V Rama Rao, CGM, Canara Bank; Shri B Sreenivasa Rao, GM, RABD, Union Bank of India and Shri Sandeep Bhattacharya, India Project Manager, Climate Bonds Initiative.
The panel discussions during the Webinar was moderated by Sh. Brij Raj, GM, RBI. Over 200 participants from Banks, Financial Institutions, sector experts, NABARD Regional Offices, NABARD Training Establishments, etc., participated in the Webinar. The programme was compered by Dr Sriram Appulingam, FM and In –Charge, CCC.