Kolkata / IBNS: The paradigm shift to clean growth will reduce toxic air and promote health by continually reducing reliance on fossil fuel sources, which provide about 64% of India’s electricity, according to Allan Walker, Green Finance Specialist, UK Department for International Commerce (DIT).
The Â£ 200 million joint venture investment between Green Investments Group (GIG) and the UK Department of Energy and Industrial Strategy (BEIS), UKCI, has been selected to invest in India and sub-Saharan Africa. Walker said while he was the CII East India Summit via a video link.
The UK government, as part of its commitment to investing in renewable energy, has expanded its support to emerging markets to respond to the challenges and opportunities of climate change and is interested in engaging in renewable energy infrastructure in India through UK Climate Investments (UKCI) to invest. he said.
He carried out several attributes of the Indo-UK Clean Growth Agenda, mainly focused on bank lending, capital markets, asset management, specialist green asset managers, venture capital and insurance.
Walker highlighted the UK’s contribution to logistics infrastructure and mentioned milestones achieved through joint ventures between Standard Chartered Bank & HSBC in financing the Islamic green Sukuk bond – the first sustainability-related financing in the aviation sector.
Financing Disaster Resilience, Alex Vleming, Insurance Specialist with the UK Department of International Trade, said: “Closing the protection gap is the insurance industry’s most important growth opportunity”.
On its journey in this segment to date, the Department of International Trade, UK has built a reputation for being the largest insurance hub in the world for capital from over 50 Managing General Agents (MGAs), 70 insurers, 350 brokers and more than 4,000 cover holders for the cooperation.
Autif Sayyed, Project Lead – Green Buildings South Asia, International Finance Corporation, spoke at the session on the green building prospects for the current time and mentioned the scope of green buildings as an investment opportunity of $ 24.7 trillion in all Emerging markets.
Sayyed urged East India to help stimulate âgreen decision makingâ by promoting a conducive ecosystem for government policy in order to raise the bar for building codes in the area.
Rahul Tabhane, Country Head – India, UK Export Finance, shares his perspectives on the Indo-UK export market and explains incentives the UKEF offers to stakeholders in relation to government or sub-government funding for Indian projects, funding for states or project sponsors in over 200 Countries and credit line for imports from the UK.