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.