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Climate change is already having a major impact on India's economy, but there's still a lot of work to be done.
A new report from the India Climate Collaborative finds that the country needs to raise approximately $48 billion to meet its climate-change goals by 2030, but there's "a lack of clear, shared classifications for climate giving as well as a lack of transparency in funding strategies and priorities, all of which makes it difficult to map fund flows."
That's especially true in India, where the Reserve Bank of India estimates that 5% to 6% of the country's GDP will be needed for a green transition, per the India Development Review.
The report, which looked at data and observations from 2018 to 2023, notes that there are three major trends impeding India's climate philanthropy: a focus on a subset of sectors, a lack of equitable funding across regions, and a "disproportionate focus on a subset of sectors."
Here are some of the key findings: Disproportionate focus on a subset of sectors: The report found that funders focus on certain sectors and solutions that are more commonly as well as prominently associated with climate action.
While funders can continue to fund this sector, the solutions and levers of impact that need support will
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