India's Green Finance Climbs to $81.9 Billion in 2023-24 with Private Capital Dominating Flows

Key facts

• Tracked green finance for emission reduction in India grew from $50 billion in 2021-22 to $81.9 billion in 2023-24, as per the fourth edition of the 'Landscape of Green Finance in India' report by Climate Policy Initiative.
• Domestic and private sources accounted for 80% of tracked green finance in India in 2023-24.
• Private capital constituted 68% of domestic finance for mitigation in 2023-24, exceeding public funds.
• Clean energy accounted for the largest share of tracked mitigation finance at $41.4 billion, more than half of the total.
• Energy efficiency made up 31% of mitigation finance, with energy-efficient appliances the top category, and clean transportation accounted for 18%.
• Saket Kumar, Deputy General Manager at the Reserve Bank of India (RBI), suggested creating a robust knowledge hub to help financiers assess lending risks for unestablished technologies.