About 83 percent of India’s green energy transition is currently funded domestically, with only 17 percent coming from abroad, according to Madhav Pai, CEO, WRI India.
Speaking to PTI, Pai emphasized the urgent need to unlock international finance to achieve the country’s climate goals, particularly for hard-to-abate sectors.
“Moving to green steel and green cement… besides hard-to-abate sectors like aviation, maritime, etc., will require international finance to come through,” Pai stated. He underscored that for India to meet its climate commitments, accessing this capital is “absolutely crucial.” He also called for greater capital commitment from countries in the Global South.
Pai noted that the commercial and industrial (C&I) sector is increasingly keen on making the switch to clean energy, with industrial clusters in states like Telangana and Maharashtra expressing interest in moving to electrification for low- to medium-heat applications.
Beyond industrial sectors, Pai highlighted the importance of addressing emissions from agriculture and food waste. He pointed out that up to 20 percent of greenhouse gases come from food loss before it reaches the market, suggesting that better packaging, storage, and transport could prevent such losses.
The WRI India CEO also urged the MSME sector to take charge in green transition initiatives, citing their vulnerability to climate shocks like floods. He recommended that MSMEs focus on preparing for climate resilience, switching to clean energy, and adopting green skilling to navigate the transition.
Pai’s remarks were made on the sidelines of WRI India’s annual event, Connect Karo, where the organization signed memoranda of understanding (MoUs) with BSES Rajdhani Power Ltd (BRPL), CuriosumTech, and the Automotive Skill Development Council (ASDC). These partnerships aim to accelerate the clean energy transition and strengthen the electric mobility ecosystem.
