Banks need to collaborate and create policies
New Delhi:Â Financial Services Secretary Vivek Joshi on Saturday asked banks to collaborate and create policies for mobilizing capital towards green finance.
Speaking at a seminar on ‘Climate Finance and Risk’, Joshi highlighted the fact that the financial sector is well positioned to incite a behavioural change in corporates and contribute towards building a sustainable society.
He stressed the steps taken by India to address the climate change issue and urged banks to collaborate and create policies for mobilizing capital towards mitigation and adaptation finance.
During the event, SBI Chairman Dinesh Khara said there is a need to mobilise domestic and international flows from retail as well as institutional investors to meet the green finance needs; and robust climate-focused frameworks backed by central regulations.
Ministry of Environment and Forest Conservation Secretary Leena Nandan requested all stakeholders to collectively come together and adopt a climate-conscious lifestyle to mitigate further aggravating the climate challenge.
Besides, she stressed the fact that India has been at the forefront of tackling climate change and has outperformed on its targets around developing green energy capacity.
