Enhancing India’s Readiness to Climate Finance

More documents

Recommendations

Info

Enhancing India’s readiness to access and deliver international climate finance 2. Investment in low carbon & climate resilient initiatives Is there a strong investment climate for low carbon and climate resilient initiatives – for both the public and private sectors? 3. Institutional management of climate finance Does the country have a strong institutional structure to manage domestic & international climate finance? 4. Institutional delivery of climate finance Does the country have a strong institutional structure to deliver climate finance through institutions that can provide NIE functions? Tier 1 Indicators 1. MRV of domestic climate finance Are there systems and structures in place to conduct MRV of domestic public climate finance? 2. MRV of private climate finance Are there systems and structures in place to conduct MRV of private climate finance? 3. MRV of international climate finance Are there systems and structures in place to conduct MRV of international climate finance? 1.3 – weak 1.7 – moderate 1.0 – weak Score 1.25 – weak 1.0 – weak 1.25 – weak 5.3 Political & Strategic functions 5.3.1 Headline messages There are well developed national and state plans put in place to deal with climate change. However the plans are not supported by detailed financing or implementation strategies; there are no formal or legally-mandated agency to access, deliver, coordinate, or centrally manage climate finance. Agent/actor/institution: India has launched plans/policies such as the NAPCC, SAPCC and intensity targets, along with relevant institutions led by MoEFCC. Competency Gaps: Greater coordination, regular communication and above all accountability is currently lacking in the climate finance response. There have been limited efforts to assess the impact of climate change on the national economy, and to prioritise specific investment based on a costs-benefit analysis of business as usual (BAU) vs. government intervention. Agent/actor/institution: Nodal Ministries responsible for implementing the NAPCC’s 8 Missions. Competency Gaps: Planning and financial tools to appraise state and sectoral level development plans to address climate change are not available. Climate change is not mainstreamed (through sectoral or state actions plans) into the national budget and financial planning cycle. Agent/actor/institution: 12th FYP and 13th Finance Commission have made minor references. Competency Gaps: There is limited capacity, coordination and access to tools within ministries to integrate climate plans with other strategic plans & budgets. Ref: Ricardo-AEA/R/ED59216/Final Report 29
Enhancing India’s readiness to access and deliver international climate finance There has been limited engagement of the private sector on climate finance issues. Agent/actor/institution: Lack of representation of the private sector in any of the national committees and bodies on climate change; few forums in place to engage the private sector. Competency Gaps: Capacity and skills gaps with public and private players have led to early stage enforcement and implementation issues; There is a lack of understanding and capacity to use climate risk screening tools for investment decisions. 5.3.2 Detailed scoring of Tier 1 indicators 1. GHG emissions – Have emissions estimates been identified at the national and sectoral levels? 3 India has appropriate systems in place to estimate GHG emissions, namely the Indian Network for Climate Change Assessment; National Communications to the UNFCCC (2004 and 2012); and via the India GHG Programme. 2. Risk & Vulnerability – Have climate vulnerabilities, risks and been identified and estimated? 1.5 Macro-level risk assessments have been conducted; however there is a need for detailed sectoral and State-level analysis. Vulnerabilities attributed to rise in surface temperature, sea level rise and adverse weather conditions are given in the National Communications to the UNFCCC, IPCC reports and National Mission documents. Key vulnerabilities have been identified but the link between environmental damage and socio-economic impact needs to be clearer. Adverse impacts on Biodiversity, Urban Areas, Rural Development, Health, Food and Water have been analysed in the National Communications to the UNFCCC, IPCC reports, 12 th FYP and National Mission documents. However, the link between key vulnerabilities and the specific impacts in terms of freshwater species) and socio-economic impacts (e.g. health impacts, loss of economic assets) is not clear. 3. Economic impacts of climate change – Have implications of climate change for the national economy been estimated? 1 Climate change awareness has improved in India, however economic strategies still do not consider the impacts of climate change appropriately. National plans, such as the 12 th FYP, have given attention to the impacts of climate change, however they do not provide detailed analysis on the implications climate change will have on the economy. State-level and sectoral development plans rarely appraise or address the economic impacts of climate change. Investment requirements have been assessed for major climate change programmes, but a full scale costs-benefit analysis between BAU and climate change strategies has not been undertaken. There have been preliminary estimates made on implementing the NAPCC, estimated at $38 billion by the Economic Survey of India. However, nodal Ministries entrusted with the implementation of the missions are yet to fully assess the likely costs of actions; estimates are therefore currently very fragmented and incomplete. There are no ‘needs’ assessment aimed at estimating financial needs for each prioritised mitigation and adaptation measure, or identifying possible financial instruments/mechanism to deliver them. No cost-benefit analysis has been undertaken on the actions for mitigating emissions from the largest sectors or reducing impacts of climate vulnerable sectors. Ref: Ricardo-AEA/R/ED59216/Final Report 30
Page 1 and 2: Enhancing India’s readiness to ac
Page 5 and 6: Acknowledgements Enhancing India’
Page 9 and 10: STRENGTHS Enhancing India’s readi
Page 39 and 40: 4.2 Readiness Framework overview En
Page 47: Enhancing India’s readiness to ac
Page 55 and 56: 5.5.2 Detailed scoring of Tier 1 in
Page 99 and 100:
Enhancing India’s readiness to ac
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
show all

Enhancing India’s Readiness to Climate Finance

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?