G20 Side Event attracted active participation from a range of stakeholders, including the public sector, corporate sector, and academic institutions.
The goal was to boost private investment in low-carbon and climate-resilient projects.
IIM Shillong, The Dr APJ Abdul Kalam Centre for Policy Research and Analysis of the Indian Institute of Management Shillong hosted the G20 Side Event on “Climate Finance” on February 4, 2023, with great success. Representatives from the public sector, corporate sector and the academic community attended the event. The Department of Economic Affairs provided support, and the IIM Shillong fraternity officially opened the event.
Leaders gather at IIM Shillong for the G20 summit, discussing global challenges and creating a brighter future
The objective of the event was to emphasize the need for increased public and private sector investments in climate action. The discussions focused on bridging the gap between finance and climate action, encouraging the flow of private capital.
Smt. Chandani Raina, Advisor, Department of Economic Affairs at the Ministry of Finance of India, spoke about India’s role in positively impacting the macro-economic effects of climate change. She emphasized the importance of mobilizing climate finance through collaborations between the public and private sectors.
Ms. Anjali Garg, Senior Operations Officer, IFC, moved the conversation further and talked about multiple issues around climate finance and mobilization of financial resources for climate change.
The session was moderated by Professor Rohit Dwivedi, Chair, SAPPR and Dr Sanjeev Ningombam, Center Coordinator of the Dr APJ Abdul Kalam Centre for Policy Research & Analysis of IIM Shillong.
The second half of the session, which was a panel discussion, focused more on the innovations that can be done towards mitigating climate change and on how India, with its youth, can be resourceful in supplying the same. It started with Professor Mousumi Bhattacharya focusing on climate tech and the challenges and gaps in mobilizing finances annually at a global level. She was also seen moderating the discussion, smoothly. Post this, Ms Ruchira Shukla, regional lead for South Asia Disruptive Technologies (IFC), who joined in a virtual capacity, talked about where action needs to be taken, where we see innovation coming from and where we need investment. Dr Ashok Kumar, who also joined virtually, talked about the present condition of the climate and the limited opportunities we have to arrest the temperature change. Ms. Sherry Lalthangzo, Economic Advisor, NEC, Shillong took to the stage to urge the students to come up with innovative ideas to support climate action. She also emphasized on combatting climate change through our lifestyles. Mr Arjun Dutt, Senior Programme Lead, CEEW, talked about the challenges in mobilizing finance for any technology that is in the growth phase and also about how these could be tackled. Our alumnus Dr Rouhin Deb discussed the attention that new innovations in the sector are getting from investors.
The G20 Side Event on “Climate Finance” was well attended and had active participation from various stakeholders. The discussions emphasized the significance of joint efforts to tackle the worldwide issue of climate change. Prominent speakers included individuals from organizations such as CEEW, DEA, IFC, and NEC Shillong.
About IIM Shillong
Indian Institute of Management Shillong was set up by the Government of India in the state of Meghalaya in the year 2007. Located amongst the hills, the campus has a serene ambiance and complements its theme of Sustainability. The meticulously framed curriculum and case-based pedagogy are aimed at preparing the participants in all aspects of management before they enter the corporate arena.
