National Green Financing Institution:
The Government is working to set up a National Green Financing Institution to aggregate green finance from different sources and lower the cost of capital to support its net-zero target by 2070.NITI Aayog is evaluating models like NaBFID/NABARD, IREDA, Green InvITs, and global Green Banks for a National Green Financing Institution. Climate change could lead to an estimated 10% loss in total economic value and up to 18% of global GDP wiped out by 2050. This economic threat is particularly severe for India, which aims to grow its economy to USD 10 trillion by 2030.
