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Goa govt, World Bank collaborate for blended finance facility for climate resilience | World News

Focus on vulnerable areas 65% of Goas population and significant economic activities are concentrated in five talukas: Pernem, Bardez, Tiswadi, Mormugao and Salcete. The plan has prioritised addressing the risks associated with flooding and sea-level rise in these vulnerable areas. This targeted focus underscores the region-specific nature of climate challenges and highlights the states commitment to tailoring responses to its unique vulnerabilities.

Power Finance Corporation (PFC), leading NBFC, power sector PSU and the largest renewable energy financier in India, has signed a Memorandum of Understanding (MoU) to support the climate ambitions of the state of Goa. The support extended would be un

The Government of Goa has announced a groundbreaking partnership with the World Bank to establish a pioneering Blended Finance facility aimed at bolstering climate resilience. According to a press release, this unprecedented initiative marks a significant step towards accessing and mobilising concessional finance to implement low-carbon and climate-resilient investments in Goa, setting an example for other coastal states in India.

The threat of the vagaries of climate change has forced the government of Kerala to come out with a revised climate action plan. Within this plan the role and scope of renewable has been expanded. Kerala Chief Minister Pinarayi Vijayan has now said that Kerala aspires to become a state that will run 100 per cent on renewable energy by 2040.

The World Bank report titled 'Climate Investment Opportunities in India's Cooling Sector' said the country is experiencing higher temperatures that arrive earlier and stay far longer.