The role of climate finance in developing country action is immense as aptly recognised in the UN Framework Convention on Climate Change. A promising development in the context of international climate finance has been the establishment of the Green Climate Fund (GCF). The GCF, established at COP 17 in Durban, is a multilateral fund with mandate to disburse financial resources from developed countries to developing countries for adaptation, mitigation, technology transfer and capacity building with respect to climate change.
Domestically, while climate change mitigation is being spearheaded at the central level, guided by the rapidly advancing missions of the National Action Plan on Climate Change (NAPCC), adaptation activities are more decentralised in nature, as seen in the increasing stress on adaptation plans and activities in the State Action Plans for Climate Change (SAPCCs). The Indian private sector is also actively undertaking interventions in similar domains. Focussing on this domestic strategy, the roundtable will create an informal setting for thought-leaders from Indian private sector and government, with an aim to churn out ideas for developing the primers of a national engagement strategy with the private sector. To accomplish this goal, the deliberations can be guided by the
- Which areas/sectors could private sector engage in? What does our existing experience guide us?
- What could be the role of private actors- large corporates, SMEs, investors, financial institutions, technology providers, as defined by the GCF?
- How can the private sector’s actions be woven into the broader fabric of national plans and priorities of the country?
- What are the possible models of private sector engagement?
- What would be the preferred level of governmental guidance and monitoring on private sector activities for GCF/PSF?