Climate finance needs could cost the country 85.6 lakh crore by 2030

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The cumulative total expenditure for adapting to climate change in India is estimated to be Rs 85.6 lakh crore by 2030, according to the RBI’s Report on Currency and Finance. As a starting point for adaptation financing assessment, the cost of policies that contribute to the achievement of various SDG goals was estimated and aggregated as well. (Through mapping of Central Sector Schemes with the 17 SDGs by NITI Aayog in SDG India Index Baseline Report)
Climate adaptation measures need to take into account the infrastructure gap caused by climate events.This could be at least 2.5% of the annual GDP. But before central banks can implement green capital regulation, bad loans in the banking system need to be reduced to alleviate potential financial risks.
It is also not advisable to not have a uniform climate mitigation strategy across sectors because emission intensities differ .Without any policy action, India's carbon dioxide emission levels may rise to 3.9 gigatonnes by 2030, from 2.7 gigatonnes in 2021. - "Overall, delayed and lenient policy actions generate adverse impact on both growth and inflation outlook in the medium-to-long-run."
For a developing country like India, the transition impact is considered minimal when following the Current Policies in the 2030 scenario but even then the GDP will shrink by 1.19 per cent.
India is one the most-future-risk-prone countries to climate change, noted Global Climate Risk Index 2021. So how does a developing country mitigate such events?

Sector-specific climate mitigation strategies can address the crisis to an extent, as suggested by the report.
In order to avoid the 3.9GT scenario, renewable energy, electric vehicles and energy-efficient appliances should cater to 55% of the country’s future energy requirements.
For the remaining 45% (industries, animal husbandry and agriculture) a combination of deploying efficient carbon pricing or transferring the responsibility to producers can help address the issue.
NITI Ayog’s state-wise performance analysis gives an idea of how different regions are performing on the climate change and energy fronts.
Chhattisgarh, Madhya Pradesh and Jharkhand are lagging behind in terms of overall scores among larger states (according to the policy think tank’s State Energy and Climate Index based on six indicators.) While Gujarat, followed by Punjab, is the best performer due to its electricity distribution companies faring well regarding infrastructure and financial position.
Among the smaller states and Union Territories, Chandigarh, Goa and Delhi are the highest performers, while a lot needs to be done in Lakshadweep and Arunachal Pradesh.

[sakshidubey]

Genuinely your reports are too helpful for UPSC aspirants like me as they provide facts which are directly of international organization in very crystal and precise manner in short time.. i am so grateful that atleast you tube have atleast 1 platform where i feel that my internet and time is utilizing isnted of wasting

[saimandebbarma]

Waste of resources all coz of the innocence of humans !

If humans don't act together on an individual level whatever we do all will go in vain i.e nothing will workout.

So help yourself & be mindful.

God bless' ❤☝️