INDIA’S INTENDED NATIONALLY DETERMINED CONTRIBUTION

5. MEANS OF IMPLEMENTATION
5.1 CLIMATE CHANGE FINANCE REQUIREMENT
Finance is a critical enabler of climate change action. However, an overall assessment and
quantification of finance requirements for adaptation and mitigation for a country with so
much diversity and demand is a difficult task given the rapid pace of changing technologies
and innovation. Estimates by various studies vary in projecting precise requirements but
converge on the enormity of funds that would be needed.
Preliminary estimates indicate that India would need around USD 206 billion (at 2014-15
prices) between 2015 and 2030 for implementing adaptation actions in agriculture, forestry,
fisheries infrastructure, water resources and ecosystems. Apart from this there will be
additional investments needed for strengthening resilience and disaster management. An
Asian Development Bank Study on assessing the costs of climate change adaptation in South
Asia indicates that approximate adaptation cost for India in energy sector alone would
roughly be about USD 7.7 billion in 2030s. The report also projects the economic damage
and losses in India from climate change to be around 1.8% of its GDP annually by 2050.
Mitigation requirements are even more enormous. Estimates by NITI Aayog (National
Institution for Transforming India) indicate that the mitigation activities for moderate low
carbon development would cost around USD 834 billion till 2030 at 2011 prices.
India's climate actions have so far been largely financed from domestic resources. A
substantial scaling up of the climate action plans would require greater resources. A detailed
and full scale assessment of international climate finance needs will be finalized at a later
stage and would depend on the gap between actual cost of implementation of India’s plans
and what can be made available from domestic sources. While this would evolve over time, a
preliminary estimate suggests that at least USD 2.5 trillion (at 2014-15 prices) will be
required for meeting India's climate change actions between now and 2030.
5.2 REQUIREMENT FOR TECHNOLOGY TRANSFER & SUPPORT
In the rapidly and ever evolving realm of technology development, it is difficult to project
future requirement of technologies. Transfer and grounding of technologies and their
knowhow would be key to enhancing adaptation and mitigation measures in developing
countries. It also calls for meaningful and adequate financing for the required cutting edge
Page 31 of 38