Tamil Nadu sets up Rs 1,000-crore Green Climate Fund

Priti Dubey

Notable because

Many states have State Action Plans for Climate Change but they tend to rely on national sources for their climate finance needs. Tamil Nadu is the first state to establish a dedicated fund. The broad spectrum of activities it will be able to target includes those that may not be readily financeable with capital on commercial terms. This is a welcome move, given that India’s net zero target requires USD 10.1 trillion in investments.

What to look out for in the months ahead

Financial instruments that will be used to raise funds, participation from global and private players, actual activities & projects that are backed by the fund, and return expectations as compared to traditional sources.