Page 351 - Low Carbon Development in China and India

• While international climate finance has sought to leverage and
attract private finance, according to Climate Funds Update, as of
the beginning of 2012, globally, for every USD 1 spent between 2010
and 2012, only USD 0.25 of private finance had been drawn. Green
Climate Fund should be able to boost this gap.

• For improving the enabling environment for PPPs, there is a need
for better transparency in the entire PPP project cycle, including
bidding processes and standardization of procurement procedures.
There is need to build capacity for evaluation and oversight. There
is a need for clear policy and regulatory guidelines specifically
targeted at addressing issues in low carbon development projects
as these are perceived to have higher risks.

• According to the World Giving Index Report of 2014, India ranked
52nd in terms of donating money to charity; overall, India ranks
69th. Moreover, the money going for environmental activities is
seen to be less. Apart from stepping up philanthropic resources,
there is a need to pay greater emphasis in the environment sector.

316 Low Carbon Development in China and India