Author: pmanifold@admin

The development of cold chain infrastructure is crucial for a country like India, which has a large agricultural sector and a significant need for efficient storage and transportation of perishable goods such as fruits, vegetables, dairy products, and pharmaceuticals. Government policies and initiatives play a key role in the large-scale development of cold chain infrastructure in India. The Indian government recognizes the importance of cold chain infrastructure and has implemented various policies and initiatives to promote its large-scale development.

One of the key approaches taken by the Indian government is the introduction of subsidies and grants-in-aid to incentivize the establishment of cold chain facilities. These financial incentives aim to offset the high capital costs involved in setting up cold storage units, refrigerated transportation, and other infrastructure components. The subsidies help reduce the financial burden on entrepreneurs and encourage private sector participation in cold chain development.

These flagship programmes promote the development of complete end-to-end cold chains, from the source to the end-customer. These initiatives aim to bridge the gaps in the existing supply chain and ensure the seamless movement of perishable goods. Some of these programs include:

1. Mission for Integrated Development of Horticulture (MIDH)

MIDH is a government scheme for holistic growth of the horticulture sector ((fruits, vegetables, root and tuber crops, mushrooms, spices, flowers, aromatic plants, coconuts, cashews, cocoa and bamboo shoots). It provides financial assistance, including for cold storage. Subsidies of 35% (or 50% in hilly areas) are available. MIDH helps establish energy-efficient multi-chamber cold storage units with thermal insulation, humidity control, advanced cooling systems, and automation. Long-term storage hubs up to 5,000 MT capacity are covered by NHM/HMNEH, while 5,000-10,000 MT hubs are covered by NHB scheme.

1. National Horticulture Mission (NHM) / Horticulture Mission for North East and Himalayan States (HMNEH)

Long-term cold storage and distribution hubs of up to 5,000 MT capacity are eligible for assistance under this open-ended sub-scheme of MIDH. Assistance comes in the form of credit linked subsidies, amounting to 35% of the capital cost of the project, or 50% in NE, hilly and Scheduled Areas.

1. National Horticulture Board (NHB)

The National Horticulture Board (NHB) is implementing the “Capital Investment Subsidy for Construction/Expansion/ Modernisation of Cold Storages and Storages for Horticulture Products.” Under this scheme (a sub-scheme of MIDH), assistance is available for the installation and modernization of cold storage units with capacity between 5,000 MT and 10,000 MT. This is an open-ended credit-linked programme offering subsidies amounting to 40% of the capital cost of a project (limited to INR 30 lakhs per project), or 50% in NE, hilly areas and Scheduled Areas (limited to INR 37.50 lakhs per project) sub-scheme of MIDH. Assistance comes in the form of credit-linked subsidies amounting to 35% of the capital cost of the project, or 50% in NE, hilly and Scheduled Areas.

2. Pradhan Mantri Kisan SAMPADA Yojana (PMKSY)

SAMPADA stands for Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters. It consists of a comprehensive package to create modern infrastructure and efficient supply chain management from farmgate to retail outlet, with the goal of boosting the growth of the food processing sector and improving returns for farmers. This is in line with the GoI’s goal to double farmers’ income, creating significant employment opportunities in rural areas. It also reduces food waste, using efficient and modern technology to help the food processing industry and export houses convert surplus produce into an export commodity.

The following will be developed under PMKSY:

• Mega Food Parks
• Integrated cold chain and value addition infrastructure
• Creation, expansion and modernization of food processing and preservation capacities
• Infrastructure for agro-processing clusters
• Backward and forward linkages
• Food safety and quality assurance infrastructure
• Human resources and institutions

So far, the Ministry has approved 41 Mega Food Parks, 353 cold chain projects, 63 agro-processing clusters, 292 food processing units, 63 backward and forward linkages projects and 6 Operation Green projects across the country.

3. Scheme for Integrated Cold Chain, Value Addition and Preservation Infrastructure

Part of PMKSY, this scheme is implemented by the Ministry of Food Processing Industries (MOFPI) with the aim of reducing post-harvest produce losses and providing better prices to farmers for their produce. Financial assistance (grants-in aid) is limited to a maximum of INR 10 crore per project for technical civil works, eligible plants and machinery, subject to the following conditions:

• For storage infrastructure (including packhouses, pre-cooling units, ripening chambers and transport infrastructure), grants-in-aid are provided amounting to 35% of total project cost, or 50% for NE and Himalayan States, Integrated Tribal Development Project (ITDP) Areas and islands.
• For value addition and processing infrastructure (including frozen storage and deep freezers integral to processing), grants-in-aid are provided amounting to 50%, or 75% for NE and Himalayan States, ITDP Areas and islands.
• For irradiation facilities, grants-in-aid are provided amounting to 50%, or 75% for NE and Himalayan States, ITDP Areas and islands.
• For reefer vehicles, credit-linked back-ended grants-in-aid are provided amounting to 50% of the cost of a new reefer vehicle/mobile pre-cooling van, up to a maximum of INR. 50.00 lakh. Integrated cold chain and preservation infrastructure can be set up by individuals, groups of entrepreneurs, cooperative societies, Self Help Groups (SHGs), Farmer Producer Organisations (FPOs), NGOs or central/state PSUs. Standalone cold storage units are not covered under the scheme.

4. Small Farmer Agri-Business Consortium (SFAC) Assistance

These subsidies are available for cold storage facilities set up as part of an integrated value chain project, provided the cold storage component accounts for no more than 75% of the Total Financial Outlay (TFO). Subsidies can amount to 25% of the capital cost of a project with a maximum ceiling of INR 2.25 crores, or 33.33% with a ceiling up to INR 4 crores in NE, hilly and Scheduled Areas.

In order to meet the government’s goal of doubling farmers’ income by 2022, several market reforms are being rolled out to encourage the development of CCI:

• The establishment of 22,000 Gramin Agriculture Markets (GrAMs) to act as aggregation platforms
• An Agri-Export Policy, which aims to double agri-exports by 2022
• The promotion of 10,000 FPOs by 2024
• The creation of the following Corpus Funds:

1. An agri-marketing fund to strengthen eNAM6 and GrAMs (INR. 2,000 crores)
2. An Agricultural Infrastructure Fund (AIF) to provide collateral-free loans with an interest subvention of 3% (INR. 100,000 crores)

Apart from this, the government is also providing profit-linked tax holidays, priority sector lending, and lower tax rates for raw and processed products. Cold chain services – including pre-conditioning, pre-cooling, ripening, waxing and retail packing – are also exempt from Goods and Service Tax (GST).

Some of the other key government initiatives in the cold chain sector are as follows:

• Exemption from Customs and Excise Duty

1. Customs Duty: A concessional basic customs duty (BCD) of only 5% is applied for cold storage, cold room and industrial projects (including farm-level precooling) for the preservation, storage or processing of agricultural, horticultural, dairy, poultry, aquatic and marine produce and meat. Truck refrigeration units and other refrigerated vehicles are fully exempted from BCD.
2. Excise Duty: Central excise duty has been fully exempted for the installation of cold storage, cold rooms and refrigerated vehicles for the preservation, storage, transport and processing of agricultural, apiary, horticultural, dairy, poultry, aquatic and marine produce and meat. This also applies to air conditioning equipment and refrigeration panels for cold chain infrastructure, including conveyor belts used in cold storage units, mandis and warehouses.

• Foreign Direct Investment (FDI):

100% FDI is allowed, leading to an increase in private sector investment. This policy requires a minimum investment of US$100, with at least 50% invested in back-end infrastructure.

• Fiscal Incentives for Cold Chain”
• Section 80-IB of the Income Tax Act provides deductions for cold chain-related industrial activity. Deductions apply to 100% of profits for the first five years, then 25-30% for the next five years.
• Under Section 35-AD of the Income Tax Act 1961, deductions of 150% are permitted for expenditure incurred in setting up a cold chain facility.

These government initiatives aim to reduce post-harvest losses, improve farmers’ income, create employment opportunities, and enhance the overall efficiency of the agricultural supply chain.

GOI’s schemes and initiatives to support cold chain infrastructure signify its commitment to fostering efficient storage and transportation of perishable goods. By providing subsidies, grants, and incentives, the government encourages private sector participation, reduces post-harvest losses, and promotes the overall growth of the agricultural sector. These efforts align with broader goals of doubling farmers’ income, boosting food processing, and enhancing the efficiency of the supply chain. Overall, the government’s focus on cold chain development contributes to the economic growth and sustainability of India’s agricultural industry.

List of Government Schemes Providing Financial Assistance for CCI Development

Every year due to post-harvest losses, US$19.4 million worth of crops are wasted in India daily due to rejection at the farmgate and delays in the distribution process with significant impacts on the environment. Effective Cold Chain Infrastructure (CCI) is one intervention that could mitigate many of these challenges.

India is the world’s highest milk producer and the second-largest food producer. Agriculture, alongside its associated sectors, is India’s largest source of livelihood.

Almost 70% of rural households depend primarily on agriculture, and 86% of farmers are smallholders. Despite this production level, India is still home to over 190 million malnourished people, a quarter of the world’s total. The Global Hunger Index 2020 report ranks India 94th out of 107, lagging behind neighbouring countries like Bangladesh, Pakistan and Nepal. Farmers and food producers, especially smallholder farmers, still struggle with low-income levels, and 4.6-15.9% of fruits and vegetables (FFV) are lost annually throughout the supply chain. The country loses approximately INR 926 billion (US$14.33 billion) every year due to post-harvest losses, and US$19.4 million worth of crops are wasted in India daily due to rejection at the farmgate and delays in the distribution process with significant impacts on the environment in terms of toxic waste, water pollution, long-term damage to ecosystems, hazardous air emissions, greenhouse gas emissions and excessive energy use. Effective Cold Chain Infrastructure (CCI) is one intervention that could mitigate many of these challenges.

As the world’s second largest food producer, India should be able to feed its population; instead, 190 million Indians are malnourished. Proper food preservation techniques could help change this by ensuring that a higher proportion of domestically produced food reaches the Indian population. Reducing food losses would also boost the incomes of smallholder farmers and others who earn their livelihoods at the first mile segment of the value chain, creating jobs and improving food security for rural populations.

What is a cold chain?

A cold chain is an environmentally controlled chain of logistics activities that cools and preserves produce or products within stipulated parameters, including temperature, humidity, atmosphere, and packaging. A well-designed and developed cold chain can prevent food losses and reduce carbon emissions related to food waste. Cold chains also ensure food security by reducing food price inflation, buffering the food supply, and overcoming seasonal shortfalls. This buffering mechanism dampens the price fluctuations that typically put vulnerable communities at risk of poverty and hunger and better supports the growth of farmers’ incomes.

Barriers to Scaling-up CCI Business Models:

Different stakeholders in the cold chain sector face economic barriers that need to be addressed through a sustainable business model. These barriers include:

• High investment cost:

Large-capacity CCI requires a sizable investment. For example, a 5,000 MT cold storage facility costs around INR 5-6 crore (US$670,000-800,000), including the cost of the land. A reefer truck with a 7.2T capacity costs around INR 18-19 lakh (US$24,000). Although the government provides subsidies of 35-75%, the remaining cost is still too high for most farmers.xxiii

• High cost of land and its availability to the operator or service provider:

The cold chain business is capital intensive, and installing high capacity (~5,000 MT) cold chain infrastructure (like packhouses and cold storage facilities) becomes even more expensive due to the high cost of land. To access government subsidies the land where the cold storage unit will be installed must be owned by the individual or company, and a 5,000 MT-capacity cold storage unit requires 1-2 acres of land. Securing land near a farmgate can also be challenging for OEMs and operators.

• High operating costs:

Most rural areas have access to grid electricity, but it is highly unreliable. This is a major issue for CCI near a farmgate, because it requires a constant power supply. Operators are forced to rely on diesel generators for about 30% of total expenses for the cold storage industry in India.

• Access to financing:

Access to financing is a challenge for smallholder farmers. Low-income earners, many of whom are unbanked and have little financial literacy, find it extremely difficult to secure loans to purchase a cold storage facility since they are considered a credit risk. Loans and subsidies are generally only available to government institutions and FPOs, not to individual farmers.

• Demand aggregation:

Due to a lack of awareness of the benefits of cooling, demand aggregation is often a challenge for CCI operators, resulting in low utilisation rates.

• Low utilisation affecting revenue:

Low utilisation rates are a major challenge to the business viability of CCI. 90-95% of CCI assets are owned by the private sector, but due to smallholder farmers’ limited ability to pay for storage and transportation, many do not use the cold storage available. CCI funded by the government also lacks modern efficient technology and transport facilities, resulting in low capacity and utilisation. To ensure better adoption of CCI, it is important to develop sustainable and affordable business models for farmers. The focus should be on decentralising CCI solutions, which would reduce investment costs. Decentralisation would also make CCI more accessible to farmers and increase utilisation of the assets, resulting in better revenues for operators and allowing farmers to sell their produce at relatively high prices. The pay-as-you-store model should be scaled up, since it lifts the burden of ownership from the farmer and therefore removes the barrier of financing.

Also read : Challenges to the Uptake Of CCI

Potential Interventions to Increase the Uptake of CCI

Various strategies could be adopted to increase the uptake of CCI solutions in India, and to ensure that these solutions scale by 2030. The following are some recommendations for the sector.

For the Government and Donors:

1. Mainstream decentralised CCI at first mile (near farmgate):

Most CCI today are centralised and high-capacity, located near urban areas which are expensive for farmers (especially smallholder farmers), and are difficult to access. Decentralising CCI can potentially solve the problem of access, benefiting farmers from cold storage through improved incomes. Decentralised CCI solutions would also significantly reduce post-harvest losses, since unsold produce could be stored rather than being discarded or spoiling. Such units could provide multi-commodity storage at affordable rates near the farmgate. The government should consider scaling them up through a programmatic intervention similar to the KUSUM scheme, which focused on solar water pumps (SWPs).

2. Promote the use of renewable and alternative energy-based CCI solutions:

The government should promote the use of off-grid solar PV for CCI technology, as well as solar thermal systems, solar-biomass hybrid systems and PCM for thermal storage. There are several different ways this could be done: providing additional incentives for renewable energy-based CCI solutions under existing subsidy schemes; integrating support for CCI into existing renewable energy schemes (such as the SWP KUSUM Scheme, since the excess power generated by SWP systems could be used to power small cold rooms near the farmgate); or promoting the Decentralised Renewable Energy livelihood scheme. Deployment of these technologies would both reduce GHG emissions and mitigate the risks associated with weak grid connectivity. It could also bring down operating costs significantly, making CCI less expensive for operators and allowing farmers to store their produce at more affordable rates.

3. Develop a standards and labelling programme for cold chain components:

Decentralized renewable CCI solutions should have defined and measured energy efficiency, quality, and performance. The Bureau of Energy Efficiency (BEE) under the Ministry of Power (MoP) can establish energy performance parameters and minimum standards (MEPS) for equipment and appliances. BEE’s Standards and Labelling (S&L) program, which has improved energy efficiency for various consumer products, could be extended to cold chain technologies. Technical specifications and cost benchmarks for renewable-based CCI solutions are currently lacking, leading to improperly sized systems. Clear standards and guidelines would promote technology innovation and help consumers choose the best options.

4. Develop demand aggregation models for deployment and utilisation of CCI:

Today, CCI is concentrated in urban areas, primarily consisting of high-capacity and capital-intensive cold storage facilities. This uneven distribution leads to operational inefficiencies, undermining the benefits of the cold chain. The high investment costs hinder CCI growth, and low demand aggregation results in underutilised assets and increased costs for farmers. To address these issues, demand aggregation is necessary to deploy appropriately sized and technologically advanced CCI across the cold chain while reducing upfront expenses. This can be achieved through data-driven optimization of overall cold chain requirements and integrated deployment of storage and transport facilities. Establishing a feedback loop from wholesalers, retailers, and consumers to producers enhances farmers’ decision-making, amplifying the holistic benefits of CCI. A demand aggregation model similar to the successful programs for LED bulbs and electric vehicles, implemented by Energy Efficiency Services Limited (EESL), can lower upfront costs. Such a model could be integrated into existing government schemes like KUSUM, utilising surplus power from solar water pumps for productive-use applications.

5. Create behavioural change for farmers:

There is a need to provide incentives for medium and smallholder farmers to start using CCI. Stakeholders report a lack of awareness around CCI among farmers, who see it as a luxury rather than a necessity. Enhanced understanding of cold chain technology should change this perception, driving CCI uptake and improving income generation opportunities for farmers. Awareness drives led by government, financing institutions like NABARD, and NGOs would demonstrate the benefits of using CCI, convincing farmers to adopt it. Such campaigns could educate farming communities on pre- and post-harvest cooling practices to better manage their produce, and on how cold chains can improve incomes. This could be done through targeted consumer campaigns such as mobile van displays, live demonstrations and goodwill ambassadors, all of which will help scale demand for CCI.

6. Provide incentives for demand and supply side CCI ecosystems:

Currently, the government is providing various capital subsidies for CCI development. It is recommended that the government uses additional incentives to encourage the growth of both a demand side and a supply side CCI ecosystem. The supply can be boosted through grants, tax rebates and R&D funds, while providing fiscal incentives to CCI users would help grow demand. The supply side ecosystem could also be developed through capacity building, creating a pool of service providers and technicians. This would not only grow the CCI industry, but would establish India as a leader in CCI for both domestic use and export.

7. Build capacity and raise awareness of CCI:

Lack of awareness hampers the optimal operation of CCI, impacting commodity quality and consumer confidence. To address this, comprehensive capacity building and training are needed throughout the supply chain, including farmers, operators, and technicians. Training should cover economic impacts, business models, technical expertise (such as temperature requirements), system monitoring, installation, and maintenance. Special focus should be given to empowering rural women through skill development programs like “Pradhan Mantri Kaushal Vikas Yojana.” Collaboration among industry leaders, associations like ISHRAE, practitioners, construction professionals, academics, NGOs, and CSOs is vital for developing effective training programs at grassroots level.

8. Drive energy efficiency in new and existing CCI:

The government should promote retrofits and replacement of existing inefficient CCI technologies, and the efficiency of new installations should be driven by the S&L programme. This would significantly reduce operating costs of CCI, and these savings can be passed on to the end-user in the form of affordable storage rates. EESL ran a similar Demand Side Management (DSM) programme to replace inefficient motors and air conditioning units. India currently has the world’s largest capacity of cold storage warehouses, but these are designed almost exclusively for the long-term storage of potatoes; this existing single-commodity CCI storage needs to be converted or retrofitted to store multiple commodities through preferred lending programmes.

For OEMs /CCI Owners /Operators:

1. Strengthen product development:

OEMs should focus on product development to make their products more low cost sustainable and farmer-centric. Using clean technology (refrigerants with low GWP) would make CCI solutions more climate friendly, which would be a better fit for the market. 2. Develop financing and servicing models: TOEMs and system integrators should leverage available government subsidies to provide end-to-end financing solutions for their customers; this includes exploring pay-as-you-store and Cooling-as-a-Service models. These models can be beneficial for smallholder farmers, who do not then need to own CCI themselves. OEMs should also focus on value-added features like warehouse financing products, after-sales support from trained personnel, and integration with reefer transport to improve market linkages

For Financing Institutions (FIs):

1. Develop a long-term warehouse financing product:

There is a need for a long term (10-15 years) financing product that de-risks farmers’ production, de-risks the CCI business for operators, and benefits smallholder farmers without requiring them to own the asset. This could be developed based on the business model of the FPO, especially those using the CCI for their own consumption or to build a new business as aggregators. For FPOs in tribal communities where this business is still nascent, longer term financing is critical. In order to reach last mile FPOs, farmers and aggregators, FIs would need to create awareness of the credit linkages and subsidies available for this sort of infrastructure (through the AIF and MIDH, for example), and would have to assist with the process of applying for these schemes and financial products. This could be done through NABARD, SFAC and other FIs empanelled under schemes like AIF.

Also read : Government Support for the Growth Of CCI

Although use cases vary across value chains, overall, CCI India is underdeveloped in the agricultural sector, and significant quantities of food are lost each year due to a lack of cold chain technology. Many smallholder farmers are still unaware of proper post-harvest handling procedures, and cannot access or afford the CCI they need to prevent losses. Business models like pay-as-you-store would help drive CCI uptake at the first mile level, as would farmer education and the development of more off-grid cold chain solutions that could reduce the risk of power cuts in areas with poor grid connectivity. Solving this problem requires more than the proper technology; a system-wide approach combining education, financing and policy changes is needed for the potential of the cold chain market to be fully realised, and for Indians to finally revolutionise their agricultural sector.

Read full assessment report on cold chain markets in India here

Climate finance refers to the financing needed to address the causes and impacts of climate change, including mitigation (reducing greenhouse gas or GHG emissions) and adaptation (managing the risks and impacts of climate change). The need for climate finance has grown as the world recognizes the urgent need to address the impacts of climate change, which are already being felt in many parts of the world. It has been steadily increasing over the past decade and reached USD 653 billion in 2019/2020.Figure 1shows how this finance is sourced (public or private) and used across six sectors:

i) water & wastewater;

ii) infrastructure & industry;

iii) land use;

iv) transport;

v) energy systems; and

vi) other & cross-sectoral.

Figure 1represents an average annual amount in USD billion for 2019 and 2020, and they provide an in-depth look at how funding is allocated throughout the lifecycle of climate projects. Some of the key observations are as follows:

• The public sector provided USD 334 billion (51%), primarily through Development Finance Institutions (DFIs). Private actors contributed USD 319 billion (49%), with commercial financial institutions and corporations contributing almost 80%.
• Grants made up 4.5% (USD 30 billion) of climate finance, with governments as the main source
• Most climate finance raised was in the form of debt, with market-rate debt accounting for 88%, while low-cost debt was only 12%
• Equity investments contributed 31% (USD 207 billion) of total climate finance
• Around 90% of climate finance was for mitigation and adaptation finance accounted for 7% of total finance, while dual-use projects accounted for 3%
• The majority of mitigation funding was allocated to energy systems, which included renewable fuel production, power and heat generation, transmission and distribution networks, policy support, and capacity building
• The transport sector ranked second among sectors receiving climate finance, covering various modes such as EVs, rail & public transport, waterways, aviation, and transport-oriented infrastructure

Figure 1. Global Climate Finance Landscape

Figure 2. Climate Finance Comparison with Paris Scenarios

Although climate financing has been growing in recent years, it remains insufficient to meet the investment requirements for realizing Paris-aligned scenarios and achieving net-zero emissions by 2050.According to Figure 2,the amount of climate finance in 2019/2020 accounted only for approximately 9% of the average scenario implementation cost. A significant portion of these investments were directed towards climate mitigation efforts in the energy sector, with only 6% of the investment going towards the transport sector. The several challenges/ barriers hindering the financing and development of green projects are

i) lack of suitable financial instruments and long disbursement procedures
ii) high perceived risk and initial investments required
iii) limited technical capacity of stakeholders to develop green projects
iv) inadequate understanding and use of low-carbon technologies
v) lack of supportive regulatory conditions to drive green investments and others.

This disparity underlines the pressing need for a substantial increase in climate financing to align with net-zero targets. Without sufficient financing, it will be difficult to meet the goals of the Paris Agreement and prevent catastrophic consequences.

In order to successfully transition to a sustainable, net zero emissions, and resilient world within this decade, a significant increase in climate investment is imperative. Unfortunately, as depicted in Figure 3, current finance flows are vastly insufficient and fall far short of the estimated annual investment needs, which are projected to be in the range of $2-2.8 trillion by 2030. Investing in the energy system is crucial for addressing climate change, and prioritizing investments in the power and transport sectors makes sense given their significant contribution to greenhouse gas emissions. In the power sector, investments can be directed towards developing renewable energy sources such as solar, wind, hydro, and others. This will reduce reliance on fossil fuels and decrease carbon emissions. Additionally, investments can be made in energy storage technologies to ensure the stability and reliability of the power grid. In the transport sector, investments can be focused on developing electric vehicles and the necessary charging infrastructure. This will reduce reliance on fossil-fuel powered vehicles and decrease carbon emissions from the transportation sector. Additionally, investments can be made in public transportation systems to encourage the use of mass transit and reduce the number of individual vehicles on the road.

Figure 3. Climate Finance Investment Needs by 2030

Climate finance must increase in speed and scale this decade for a credible transition to a sustainable, net zero, and resilient world. It should count in the trillions annually, whereas fossil fuel investments should dramatically decrease this decade to achieve this transition. Climate finance commitments also need to translate into action in the real economy, requiring all public and private actors to align their investments with Paris goals and net zero, sustainable pathways. This requires coordinated action from all actors:

• Governments needs to build confidence in key markets with clear policy signals and incentives, with interim goals on net zero, whereas financial regulators should set standardized rules to enforce the targets
• Development banks and international finance institutions can help build strategy, engage with counterparties, and support policy development, while deploying a wider range of instruments that take on more risk, helping to catalyze more private investment in developing economies
• Private sector needs to better appreciate new approaches to collaborating and investing, but also needs to mainstream climate considerations by assessing risk and opportunities in a more holistic way

Source

• Global Landscape of Climate Finance – Climate Policy Initiative
• Climate finance flows and needs – David Carlin, UNEP FI, January 2023