Climate Change and Its Financing - Indias Experience

Abstract

Abstract According to M inistry o f Environment and Forest, Climate Change refers to a statistically significant variation in either the mean state o f the climate or in its variability, persisting for an extended period (typically decades or longer). The Climate Change initiatives need huge finance and it is difficult fo r the developing economies to garner such funds. In this light, this paper attempts to understand the scenario of Climate Change and its financing in India. This paper outlines the extent of funds dedicated for Climate Change projects during 2007 to 2013 by external agencies (GEF, Germany's International Climate Initiative, Japan's Fast Start Finance, Clean Technology Fund and others) in India. It will focus on sixty-six projects which have been approved by international agencies; while the funds approved are USD 3312.78 million only USD 122.82 million have been disbursed. The focus areas o f these projects will be analysed in the light of the National Action Plan on Climate Change's eight mission.