Climate Mitigation Financing Framework in Select States
The study project on Climate Mitigation Financing Framework was carried out by CBGA with the financial support of Shakti Sustainable Energy Foundation. It offers a granular understanding of public financing at the state level for various climate mitigation actions. The funds for climate mitigation actions allocated through the state budgets form a critical part of the renewable energy (RE) financing framework at the state level, to supplement resources from the Central Government sources. In line with Intended Nationally Determined Contributions (INDCs) for climate change, the state governments are making efforts to decarbonise both on the demand and supply side through promotion of renewable energy and energy efficiency measures across the sectors. Efforts are also being made to reduce fuel consumption in transport sector by promotion of electric based mobility.
The Consolidated Report of the study presents a cross sectoral analysis for a variety of climate mitigation actions based on States’ findings. Report makes recommendation for robust and efficient utilisation of available state finances for climate mitigation actions with governance allied for leveraging greater participation with transparency and accountability mechanisms in place. It also reflects on the suitability of the States’ budgetary provisions in meeting the financing requirement of mitigation actions proposed under States’ Action Plan on Climate Change (SAPCC).
A series of four State specific policy briefs following the consolidated report, present State specific challenges in financing of climate mitigation actions. These policy briefs seek to improve understanding of state government institutions about their responsibilities in implementing state climate mitigation policies. They further seek to enhance the understanding about quantifying climate related expenditure through budgetary and extra-budgetary channels of the state government, and strengthening stakeholders’ capacity to formulate stronger policy proposals with innovative financing instruments that can deliver actions for climate change mitigation efficiently.
While India considers its economic revival plan amid the COVID-19 crisis, the understanding provided by the outputs under this series can be helpful in developing well thought-out proposals for further leveraging climate finances with greater participation.
The series include the following publications.
