Today, in the 11th Economic and Financial Dialogue, the UK and
India welcome the launch of the Climate Finance Leadership
Initiative (CFLI) India partnership. Through this partnership, the
CFLI, a group of leading financial institutions responsible for
$6.2 trillion in assets, led by UN Special Envoy for Climate
Ambition and Solutions Michael Bloomberg, will work with financial
institutions, corporates, and existing...Request free trial
Today, in the 11th Economic and Financial Dialogue, the UK
and India welcome the launch of the Climate Finance
Leadership Initiative (CFLI) India
partnership.
Through this partnership, the CFLI, a
group of leading financial institutions responsible for
$6.2 trillion in assets, led by UN Special Envoy for
Climate Ambition and Solutions Michael Bloomberg, will work
with financial institutions, corporates, and existing
sustainable finance initiatives, to accelerate efforts to
mobilise private capital into India.
CFLI
India will be co-chaired by Shemara Wikranamayake,
CEO of Macquarie Group and Natarajan Chandrasekaran,
Chairman of Tata Group. CFLI
India will be supported by Bloomberg, the Global
Infrastructure Facility, Her Majesty’s Government,
Government of India and City of London Corporation.
Each party will contribute to this shared mission
through their respective strengths and roles.
Focusing on private sector financing of sustainable
infrastructure projects in specific low-carbon
sectors to support India’s ambition of meeting their
nationally determined contribution (NDC),
CFLI
India will deliver impact through 2 complementary
activities:
- directly mobilizing capital through existing or
new equity financing vehicles, co-created with local
stakeholders and tailored to India’s market needs,
over the life of the CFLI
India, to catalyse sustained private investment at
scale
- advancing public-private collaboration by
partnering with the Government of India and the
multilateral development finance institutions to
address a targeted set of sector-specific policy
opportunities to strengthen the enabling environment
for private capital in India. Through this
collaboration, CFLI
India seeks to reinforce international investor
confidence in India’s low carbon transition, opening
access to rapidly growing offshore pools of
sustainable capital
Going forward, CFLI
India will launch its ecosystem of country relevant
technical assistance initiatives, sustainable
infrastructure project preparation and pipeline
development, and support financing vehicles and funds
to facilitate accelerated private capital
mobilization at scale for India’s low-carbon, climate
resilient development.
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