New Delhi, Sep 11 (NationPress) India is set to require more than $10 trillion by the year 2070 to realize its Net Zero objectives. To facilitate this, the nation is developing crucial blended finance frameworks that utilize public funds to mitigate risks and stimulate private sector investments in areas such as renewable energy, energy efficiency, electric mobility, waste-to-wealth initiatives, and nature-based solutions, according to Union Minister Bhupender Yadav.

The current century poses a dual challenge for countries like India: fulfilling the growth expectations of a youthful and ambitious populace while simultaneously safeguarding the planet against the effects of climate change, biodiversity decline, and environmental degradation.

Under the guidance of Prime Minister Narendra Modi, India has embarked on a path defined by ambition, creativity, and transformation, the minister stated during his keynote address at the 4th edition of FICCI’s LEADS event. He praised the industry for embodying the spirit of seeking both economic advancement and ecological sustainability.

In his address focused on Green Financing, Yadav emphasized that the future of economic development hinges on aligning profit with sustainability, placing people and ecosystems at the heart of this growth.

The minister asserted that collaborative efforts among governments, industries, regulators, global financial institutions, and citizens are essential to tackling climate change while ensuring inclusive economic progress.

He outlined the historical journey of industrialization and progress that has led to global environmental harm over the last two centuries. He noted that rising global temperature thresholds of 1.5 to 2 degrees Celsius represent not just climate science but the repercussions of unsustainable development. The industry must consider not just profit margins but also the environmental impacts obscured by them.

Yadav argued that green finance should not be perceived as a niche effort but as a fundamental aspect of competitive and resilient economies. It involves rethinking capital flows so that every investment—whether in infrastructure, agriculture, transport, or industry—generates economic returns while bolstering sustainability.

He insisted that green finance should establish economic systems where growth is intricately linked to ecological health and community well-being.

The minister highlighted India's initiatives to bolster confidence in green investments, including the issuance of sovereign green bonds, which have garnered significant international interest, showcasing strong confidence in India's green development potential.

Regulatory bodies like the Reserve Bank of India and the Securities and Exchange Board of India are also ramping up efforts to promote responsible disclosure, accountability, and transparency in green investments, ensuring long-term trust and stability in the sector.

He also discussed the government’s Green Credit Programme, launched in October 2023, as an innovative tool to motivate individuals and institutions to actively engage in positive environmental practices such as eco-restoration.

Yadav stressed that financing mechanisms for this transition need to be inclusive, offering benefits to MSMEs, farmers, and marginalized communities.