AS-CFMS and TERI Sign MoU to Collaborate on Finance, Sustainable Development, and Climate Action at Advantage Assam 2.0
Guwahati, February 26, 2025: The Assam Society for Comprehensive Financial Management System (AS-CFMS), and The Energy and Resources Institute (TERI) have signed a Memorandum of Understanding (MoU) on Tuesday to collaborate on policy innovations and solutions in finance, sustainable development, and climate change, with a special focus on green finance on Tuesday. AS-CFMS is administered under the overall guidance of the Governing Body and Executive Committee of the Finance Department, Government of Assam.
The MoU was signed by Dr Dipankar Saharia, Senior Director, TERI, and Smt Laya Madduri, IAS, Secretary to the Finance Department, Government of Assam, at Advantage Assam 2.0, the investment and infrastructure summit.
The MoU aims to strengthen the policy ecosystem to accelerate Assam’s transition towards a greener economy. It will support AS-CFMS in integrating sustainability into public finance systems through initiatives like green budgeting, eco-friendly public procurement, and climate-focused financial strategies. The collaboration will also strengthen frameworks for Green Budget reporting and Green Procurement in Assam, while building the capacity of Administrative Departments and engaging stakeholders to promote awareness and drive meaningful action.
Speaking on the occasion, Dr Vibha Dhawan, Director General, TERI, said, “This partnership underscores our commitment to driving sustainable solutions through policy and practice. By integrating green finance into public systems, we aim to support Assam in achieving its sustainability goals.”
Dr Saharia highlighted, “This MoU marks a landmark development for TERI to strengthen its role in policy research, taking a system-wide, whole-of-government approach to finance, sustainable development, and climate resilience in Assam.”
Smt Laya Madduri, noted that the partnership with TERI advances Assam’s sustainable development goals, with green budgeting and eco-friendly procurement strengthening the state’s climate resilience.
Dr Shailly Kedia, Senior Fellow, TERI, remarked, “Over a period, policy innovations such as green budgeting can align with outcome budgets. TERI will undertake scoping exercises for green public procurement and a needs assessment for SDG-linked green finance.”
AS-CFMS will apply its expertise in public financial management to integrate sustainability principles into Assam’s fiscal policies and reporting systems. It will also serve as a nodal agency to facilitate the adoption of research-driven policy measures and ensure the active involvement of stakeholders in policy innovations, capacity-building programs, and awareness initiatives. TERI, in turn, will bring its domain knowledge in green finance, capacity building, and policy research to strengthen the state's green public finance ecosystem.
The partnership is expected to yield long-term benefits for Assam by advancing sustainable finance practices, fostering policy innovations, and enhancing the capacity of administrative departments to implement green initiatives.