Managing climate-related risks in India’s financial sector: lessons from other countries
Description
India’s huge population and economy means it is central to both mitigating and adapting to climate change. Decarbonising and climate-proofing the Indian economy will require a financial system that can manage climate-related risks and mobilise capital for green investments. However, most Indian financial institutions do not account for the impact of climate risks on their balance sheets or in their lending decisions, nor does Reserve Bank of India (RBI) require them to do so.
Join us in this unofficial COP26 side event to celebrate frontrunners in India’s financial sector and discuss the challenges they face managing climate transition risks. The discussion will feature insights from senior leaders from both domestic and international central banks. It will also explore opportunities for India to strengthen climate-related risk management and expand green investment and lending. This event is a unique opportunity to hear about why and how the Indian financial sector is adopting ESG (Environmental, Social and Governance) practices at scale, and some lessons learnt from other countries.
The event is co-hosted by ODI, Climate Bonds Initiative (CBI) and auctusESG as part of an initiative generously supported by UK PACT (Partnering for Accelerated Climate Transitions). The partnership is working with front-running financial institutions to strengthen climate risk assessment and enable central bank supervision in India’s financial sector.
Speakers
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Dr Urjit Patel
Panellist - Former Governor, Reserve Bank of India, and Chairman, National Institute of Public Finance and Policy
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Theresa Löber
Panellist - Head of Green Finance, Bank of England
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