Can COP29 Help In Expediting Renewable Growth In India? Updated On Mon, Nov 11th, 2024 by Saurenergy The convergence of global leaders, policymakers, and pro-climate groups in Baku, Azerbaijan, for the annual Conference of Parties (COP29) is likely to expedite the energy transition globally. It is more pertinent to the Global South including India which has been demanding fair access to the Climate Fund, as committed by developed countries for pro-climate activities. […] Read more
Two Point O Capital Raises $6.3 Million From Omnivore, Others Updated On Fri, Sep 27th, 2024 by Saurenergy Two Point O Capital, a climate financing platform for businesses (including MSMEs and rural enterprises), announced today that it has raised $6.3 million in Seed funding. VC fund Omnivore led the round with participation from Multiply Ventures, RTP Global, GrowX, Spectrum Impact, and a group of angel funders. Two Point O aims to address the […] Read more
Fiscal Year 2024: World Bank Provides $42.6 Bn Climate Finance Updated On Fri, Sep 20th, 2024 by Saurenergy The World Bank Group delivered a record $42.6 billion in climate finance in fiscal year 2024—from July 1, 2023, to June 30, 2024, according to its ‘Climate Finance Fiscal Year 2024 Snapshot’. This is a 10% increase in climate finance compared to the previous year. At COP28, the World Bank Group committed to increasing its […] Read more
Climate Finance Still A Challenge For Developing Countries Amid RE Push Updated On Thu, May 2nd, 2024 by Saurenergy Amid fears of worsening impacts of climate change and the push towards renewable energy, financing for the transition to greener energy sources remains the pivotal issue. A report by the World Bank that focused on developing countries emphasised that energy transition there will require ‘unprecedented transformation of the power sector infrastructure’. Along with that, it […] Read more
RBI Releases Guidelines To Banks For Acceptance Of Green Deposits Updated On Wed, Apr 12th, 2023 by Saurenergy The Reserve Bank of India (RBI) has issued a dedicated set of guidelines to the Indian banks and Non-Banking Financial Institutions (NBFCs) for accepting green deposits effective June 1, 2023. The move will likely boost the country’s financing of renewable energy projects. As per the mandate of the RBI, the financial institutions will extend the […] Read more
ICRIER Report Bats For Establishing Green State Investment Banks For Clean Tech Financing Updated On Mon, Apr 10th, 2023 by Saurenergy A latest Policy Paper released by the International Council for Research on International Economic Relations (ICRIER), a think-tank on Clean Energy Finance, batted for establishing a green state investment bank (SIB) to finance new clean energy technologies. The think tank released the paper ahead of the G-20 meeting in India to attract its stakeholders on […] Read more
Norway Allocates $1.2 bn for RE Projects in Developing Nations Updated On Fri, Jul 9th, 2021 by Saurenergy The Norwegian government has announced the allocation of $1.16 billion over five years for a new fund that will invest in renewable energy in developing countries with the aim of reducing greenhouse gas emissions. Speaking about the new fund, Minister of International Development Dag-Inge Ulstein said, “It is part of the solution to some of […] Read more
MDPs Committed Climate Finance Worth $66 B in 2020: Joint Report Updated On Fri, Jul 2nd, 2021 by Saurenergy According to the recently published 2020 Joint Report on Multilateral Development Banks’ Climate Finance, climate finance committed by major multilateral development banks (MDBs) rose to a total of $66 billion last year from $61.6 billion in 2019, of which, 58%—or $38 billion—was committed to low- and middle-income economies. The total climate cofinance committed during 2020 […] Read more
IFC Eclipses $10 bn in Climate Finance Investments Since 2006 Updated On Tue, Nov 26th, 2019 by Saurenergy IFC has surpassed USD 10 billion in climate finance investments in financial institutions in emerging markets since 2006. IFC, a member of the World Bank Group, has announced that it has surpassed USD 10 billion in climate finance investments in financial institutions in emerging markets since 2006, a milestone that reflects the Corporation’s commitment to […] Read more
