Financing India's Decarbonisation Journey – the Role of Private Investment for Mitigation

Carbon finance has been moving to the centre of global discussions on climate change. The reality of the impending disaster from global warming is generating a sense of urgency in global elites. At the Conference of Parties in Paris, countries agreed that the rise in global temperatures had to be restricted to 1.5 degrees (UNFCCC, n.d). However, actions to reduce carbon emissions have been inadequate. As a result, this may no longer be feasible. Unless there is an immediate and massive increase in effective mitigation measures to control emissions by reducing the use of fossil fuels across the world, the future will keep getting bleaker. This is a global problem. Action is needed everywhere. The need for adaptation grows as temperatures rise. The costs of adaptation rise sharply with increasing temperatures. Mitigation is clearly the cheaper option for all.