NABARD Climate Strategy 2030

• Context (TH): On Earth Day, the National Bank for Agriculture and Rural Development (NABARD) unveiled its Climate Strategy 2030 document, which aims to address India’s need for green financing.
• Key strategy pillars: Accelerating green lending across sectors, Broadening the market-making role, Internal green transformation, and Strategic resource mobilisation.

India’s need for green financing

• India requires approx. $170 billion annually to reach a cumulative total of over $2.5 trillion by 2030.
• As of 2019-20, India garnered only about $49 billion in green financing.
• The majority focused on mitigation; only $5 billion was allocated towards adaptation and resilience.
• Minimal private sector engagement in adaptation and resilience due to challenges in bankability and commercial viability was observed.

Sustainable practices examples from the Private sector

• DLF: The only Indian real estate company featured in the Dow Jones Sustainability Index in the last three years. It is committed to water reduction & reuse and transplanting of mature trees.
• Signature Group: EDGE-certified or IGBC gold-rated projects and reduced water usage by low-flow water faucets and toilets, rainwater collecting systems, and wastewater treatment and reuse facilities.
• Remsons Industries: Received the Gold Medal in the Ecovadis Sustainability Assessment by showcasing exemplary performance in key areas such as Environment and Sustainable Procurement.

Indian Green Building Council (IGBC) It is part of the Confederation of Indian Industry (CII), formed in the year 2001. Vision: To enable a sustainable built environment for all and facilitate India to be one of the global leaders in the sustainable built environment by 2025.

EDGE (“Excellence in Design for Greater Efficiencies”) is free software, a green building standard, and an international green building certification system.

Ecovadis Sustainability Assessment is carried out by EcoVadis (a private company), which is the world’s largest and most trusted provider of business sustainability ratings.