NEW DELHI: Achieving the Sustainable Development Goals (SDGs) and climate action needs an investment of about $5-6 trillion, which in turn will create business opportunities of about $90 trillion, G20 Sherpa Shri Amitabh Kant said in an interaction with the media recently.
He was addressing the media after the completion of a 2-day G20 policy workshop on ‘A Green and Sustainable Growth Agenda for the Global Economy’ in New Delhi. Kant reiterated that there is no shortage of resources with around $350 trillion funds available globally for investment, of which $150 trillion are aligned with Institutional Funds.
He, however, pointed out that the challenge is lack of adequate bankable project pipeline, and emphasised on the need for a Global Project Accelerator Fund in order to de-risk projects. Niti Aayog vice-chairman Suman Bery also reiterated that there is no shortage of funds for sustainable growth for emerging countries, but project preparation and data remain a big challenge.
Amitabh Kant cited IMF data saying that 80% of the global growth is going to come from emerging markets, and therefore, there is a need to alter the global financial architecture and the flow of resources to provide better impetus to this growth.
Emphasising the role of NITI Aayog in enabling the green transition, CEO, Niti Aayog, BVR Subrahmanyam, said that NITI has a fundamental role in creating ecosystems that facilitate the adoption of frontier technologies.
He cited the successful example of transformation in the electric vehicle space where NIiti Aayog played a pioneering role. Further he highlighted that the role of States in the implementation of green energy projects will be pivotal and Niti Aayog will provide the required support to States in this endeavour.
The 2-day G20 policy workshop was organised by Niti Aayog in collaboration with International Development Research Centre (IDRC) and Global Development Network (GDN).
‘Global growth will come from emerging markets’
Amitabh Kant cited IMF data saying that 80% of the global growth is going to come from emerging markets, and there is a need to alter the global financial architecture and the flow of resources to provide better impetus to this growth. He said there is no shortage of resources.