India’s G20 presidency and its green financial agenda

Under the Indian presidency, the G20 in 2023 will focus on equitable and inclusive growth and development. This roundtable will discuss India’s G20 presidency priorities, macroeconomic context and how the G20 host country plans to address global challenges like a slowing global economy and the climate crisis.

The world’s most populous nation with a rapidly growing economy and high vulnerability to climate risks has committed to achieving net-zero emissions by 2070. India has also made accelerating climate finance and closing the climate finance gap its G20 priorities. However, according to Reserve Bank of India estimations, climate change adaptation would cost the country around $1tn by 2030.

To address risks arising from climate change, the RBI is developing regulations to encourage the financial sector to take proactive measures. India’s capital market regulator, Securities and Exchange Board of India, has also strengthened the framework for sustainable issuance and revised the disclosure requirements. The event will also delve into the RBI’s and SEBI’s approach to climate risks, sustainable practices and their role in fostering a resilient and sustainable financial system.