Investment and Finance
Given the urgency of climate action, access to sustainable & green finance is key for materialising the transition plan in Jharkhand. By embracing a dedicated strategy and roadmap for climate finance and investments, the state can proactively address the urgent climate crisis while fostering a fair and sustainable future for all its residents.
The Task Force is developing an enabling framework to attract international funding, support SDGs, foster green technology innovation, create employment opportunities, and ensure long-term economic and social stability for the state.
Key Objectives
Assessing cost of coal transition: In the light of developing an economic path away from fossil fuels, it is imperative to know the cost of transition and develop an investment framework to make sure that the Jharkhand economy is future-ready in the true sense.
Fiscal analysis: An analysis of the revenue and capital receipts and expenditure for Jharkhand including development expenditure done on social activities and the current situation of overall state finances to determine the gaps in meeting the economic goals in new scenarios.
Fossil fuel dependence analysis: Analysis of the state’s dependence on fossil fuels-based revenues and help the state identify alternative forms of revenues and attract new investment to meet SDGs.
Climate finance framework: Analysis and creation of a framework of different green/climate financing options and instruments available for the state to transition for different activities. This will also include mechanisms necessary for the state and districts to access green/climate finance.
Capacity building of financial institutions: To build the capacity of state-level actors in state-level budgeting with a new alternative form of revenues and provide support in identifying avenues of finance for energy transition both from public and private sources.