Saturday, May 25, 2024
HomeCSREmpowering Climate Innovations and Sustainable Finance:...

Empowering Climate Innovations and Sustainable Finance: T20’s Visionary Recommendations

Global Consultation Unveils Game-Changing Strategies for Climate Technologies and SME Financing

Banner Advertising
Banner Advertising

New Delhi: In a remarkable display of collaboration and innovation, Aspire Impact, alongside co-hosts Aspire Circle and TERI, spearheaded a transformative Global Consultation event titled “Catalysing inclusive Climate Innovations for the Global Impact Economy”. Bringing together an array of experts from diverse sectors, including corporates, SMEs, banks, investors, policymakers, think tanks, and climate organizations, the event aimed to gather insights on groundbreaking research from two visionary Working Groups: “Unlocking Climate Technologies for Global South” and “Catalyzing Climate and ESG-led Finance for SMEs and Supply Chains”.

Advancing Climate Solutions through Collaborative Action

The culmination of two months of intensive collaboration among the 25-strong expert teams from each Working Group, these research publications highlight inventive pathways to address critical environmental challenges. Aspire Impact and its partners, including TERI, Mahindra University, and The Rockefeller Foundation, played a pivotal role in presenting these visionary concepts to the world.

Pioneering Sustainable Finance for SMEs and Supply Chains

The first Working Group’s publication, titled “Catalyzing Climate and ESG-led Finance for SMEs and Supply Chains”, introduces a transformative approach. This strategy seeks to establish a link between Environmental, Social, and Governance (ESG) considerations, sustainable practices, and their profound impact on cost-effective climate finance for SMEs and supply chains. By harnessing the potential of Open Digital Eco-Systems (ODEs), this approach aims to uncover climate finance opportunities, strengthen the capabilities of SMEs and supply chains, and facilitate their integration into a dynamic movement towards achieving Net Zero emissions. The proposed ODEs have the potential to catalyze the adoption of Sustainable Development Goals (SDGs), ultimately enhancing the resilience of SMEs and positioning them as key contributors to a sustainable future.

Pioneering Climate Technologies Transfer for Global Impact

The second Working Group’s publication, “Unlocking Climate Technologies for Global South”, envisions the establishment of a groundbreaking initiative—the Climate Technologies’ Clearing House (CTCH). Serving as a transformative Trade Hub, the CTCH aims to facilitate the seamless transfer of cutting-edge climate technologies to governments and corporations in Global South nations. Addressing critical needs such as financial support, transparent buyer-supplier connections, and capacity-building, the CTCH holds the promise to empower Global South nations in fulfilling their commitments under the UNFCCC and Paris Agreement, fostering a more equitable and impactful climate action landscape.

The Voice of Global Leadership

Amit Bhatia, Founder & CEO of Aspire Impact and Aspire Circle, emphasized the significance of the event, stating, “The Global Consultation’s success, marked by the participation of over 200 practitioners and co-authored by 50 experts, is a remarkable achievement. The recommendations for a dedicated facility for climate technology transfer and the integration of supply-chain financing with climate action and ESG ratings are groundbreaking steps. These novel propositions hold the potential to benefit SMEs and large businesses alike, expediting our journey towards a Net Zero world.”

Voices Shaping the Future

The impressive roster of contributors for the two working groups comprised esteemed professionals from various sectors. “Catalyzing Climate and ESG-led Finance for SMEs and Supply Chains” boasted co-authors such as Abhishake Kumar Karn, Head of PSL Wholesale & MSME – RBL Bank; Dr. Adriana Kocornik-Mina, Senior Manager of Metrics and Research – Global Alliance for Banking on Values; and Bhavya Sharma, Director of Communications & ESG – Urban Company, among other distinguished figures.

The co-authors of “Unlocking Climate Technologies for Global South” included notable leaders like Alok Jagdhari, Managing Partner – 92 Angels; Dr. Amrita Goldar, Senior Fellow and Thematic Lead – Climate Change Urbanization and Sustainability, ICRIER; and Anirban Ghosh, Head of Centre for Sustainability – Mahindra University, contributing their expertise to shape innovative strategies.

In conclusion, the Global Consultation led by Aspire Impact, Aspire Circle, and TERI has set a pioneering precedent in addressing climate challenges through innovative collaborations. The recommendations put forth by the two visionary Working Groups offer transformative pathways to harness climate technologies and foster sustainable finance, paving the way for a more equitable and impactful global impact economy.

NewsVibe - Latest Hindi news site for politics, business, sports, entertainment, and more. Stay informed with News Vibe.

Most Popular