Govt plans National Green Financing Institution to meet climate goals: NITI

Quick Summary:

NITI Aayog said it is examining structuring mechanisms for operationalising a potential National Green Financing Institution, including a bank modelled on NaBFID/NABARD, repurposing existing institutions like IREDA; Climate Fund in GIFT city, Green InvIT, etc.(non-exhaustive) along with analysing best practices from Green Banks around the world.

The government is working to set up a National Green Financing Institution to support its net-zero target by 2070, as current finance flows for climate initiatives remain much lower than the desired levels, NITI Aayog has said.

"A dedicated National Green Financing Institution may be envisaged to bridge the huge gap," the Aayog said in its annual report 2024-25.

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Category: BusinessFinance

Markets: India

Topics: Green financing UNFCCC National Green Financing Institution NITI Aayog Net zero NaBFID NABARD Renewable energy Carbon sink Climate goals

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Article Type: News Report

Published On: 2025-02-25 @ 15:35:43 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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News ID: 26430316

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