E-Paper
RBI’s climate meet highlights importance of collective effort
The Reserve Bank of India (RBI) organized a symposium on climate risk and sustainable finance in Lucknow, emphasizing the importance of collective efforts in addressing climate risks and promoting sustainable finance. The keynote address by the deputy governor highlighted the need for a multi-pronged approach involving various stakeholders.
The Reserve Bank of India (RBI), Lucknow, organised a symposium on ‘Climate risk and sustainable finance’, in Lucknow, on Friday. The event was organised in the backdrop of the climate-related initiatives of the RBI and the theme ‘Towards a Green and Clean India’ of the recently published report ‘Currency and Finance Report: 2022-23’.
The report outlines the risks posed by climate change to the country’s macro-fiscal prospects and the range of policy options available to mitigate climate risks. Balu Kenchappa, regional director, RBI, Lucknow, emphasised the importance of collective efforts in addressing climate risks and promoting sustainable finance.
The highlight of the symposium was the keynote address by M Rajeswara Rao, deputy governor, RBI, which was followed by an informative panel discussion on the topic. Rao stressed the urgent need to move towards a sustainable and low-carbon future and the need for a multi-pronged approach involving governments, private sector entities, financial institutions and civil society organisations.
