Need blended finance, private capital leveraging to achieve SDG: Sitharaman

Finance Minister on Thursday underlined the need for blended finance and leveraging private capital to achieve (SDGs).

She was speaking at the Sustainable Finance for Climate Transition roundtable in Bali, Indonesia, which is hosting the third G20 Finance Ministers and Central Bank Governors (FMCBG).

“The Union Finance Minister highlighted the role of #MDBs, use of #BlendedFinance and leveraging #PrivateCapital for scaling up #SustainableFinance and reaching #SDGs,” the finance ministry said in a series of tweets.

The finance minister also shared India’s two-pronged energy transition plan — promoting renewables in the energy mix and adopting innovative policy measures — for increasing energy efficiency and security.

“FM Smt. @nsitharaman emphasised the #Panchamrit strategy to tackle #ClimateChange, as envisaged by Prime Minister Shri @narendramodi,” another tweet said.

At the COP26 conference in Glasgow, Scotland, last year, Prime Minister Modi took the pledge of ‘Panchamrit’ or five-nectar elements in India’s fight against climate change.

The ‘Panchamrit’ commitment seeks to raise India’s non-fossil fuel-based energy capacity to 500 GW by 2030, ensure that 50 per cent of the country’s energy requirements would be met by renewable energy sources by the same year, reduce…

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