India needs to scale up public and private investments partnering with institutional investors like insurance and pension funds to mobilize much-needed funds for climate action.
The roundtable discussion shed light on the estimated investment of $1 trillion needed between 2015 and 2030 to ensure effective adaptation.
"Our collective efforts must be directed towards building a climate-resilient India", experts warned.
For the first time, the issue of “funds for climate action” came up for an active though-provoking discussion on climate finance held in IIT Madras on June 18. It was a grueling effort to find funds to combat climate change. 
The discussion brought key players from various sectors- officials, bankers, investors, and industry experts- on board to find a way-out for climate finance.
The domestic aspect of this roundtable precedes the 3rd Sustainable Finance Working Group (SFWG) meeting under India’s G20s Presidency, scheduled to be held between 19th and 21st June 2023 in Mahabalipuram, Tamil Nadu.
The climate finance is crucial for Himalayan states like Himachal, which have been feeling the pinch of lack of climate funds to tackle the climate change.
These new measures, if see the light of day, will go a long way in combating climate change and sustaining livelihoods of farmers, Ann Datta, mainly in the Himalayan states.
The hill farmers are the most hit by climate change as they have nothing to support themselves in the cataclysmic events like crops failures and pandemics as there are no private jobs due to a low industrial base.
Although India's per capita carbon emissions are lower than the global average, Indian government has been proactive in implementing measures to reduce emissions.
For one thing, Himachal is talking about “Green Himachal by 2026”.
The climate funds meet IIT Madras offers a silver lining. 
The officials, bankers, investors, and industry experts delved into the current state of climate finance and identified a significant gap between the required investment levels and the available funds.
They said the “role of public finance in boosting climate investments” can be crucial.
The experts acknowledged that private finance must be scaled up through supportive policies and market measures.
The experts also stressed the importance of creating an enabling environment for the deployment of low-carbon technologies and encouraging innovation.
During the event, participants proposed several promising avenues to bridge the climate finance gap. They suggested implementing policy and regulatory measures such as enhanced disclosures and financial mechanisms like blended finance.
Additionally, they explored the potential of partnering with institutional investors such as insurance and pension funds to mobilize much-needed funds for climate action.
Ms. Chandni Raina from the Ministry of Finance highlighted the urgency of mobilizing financial resources to effectively address climate change.
She noted that while India's per capita carbon emissions are lower than the global average, the government has been proactive in implementing measures to reduce emissions.
Dr. Dhruba Purkayastha, Director India at the Climate Policy Initiative, commended India's progress in meeting its Nationally Determined Contributions (NDC) goals.
“We need to increase investments in mitigation and adaptation efforts”.
He urged policymakers to take decisive action and regulate the financial sector to facilitate climate investments.
Prof. V. Kamakoti, Director, IIT Madras said, “Collective efforts, in line with India’s G20 motto of ‘Vasudhaiva Kutumbakam’ are fundamental for the world to deal with climate change.”
With a significant portion of our land exposed to floods, droughts, earthquakes and coastal hazards, it is imperative that we invest in robust adaptation and resilience measures, he added.
The event was held in collaboration with the Ministry of Finance and Climate Policy Initiative.
It aimed to find innovative ways to secure funding for sustainable projects.
Let us see How the Ministry of Finance carry out the agenda of securing funds for Climate Action even as IIT Madras has led the way in the country.
