This grant will support the Climate Policy Initiative’s India Clean Energy Fund. This fund will support grantees who seek funding from the U.S. government’s Overseas Private Investment Corporation to develop distributed and rooftop solar business models for the purpose of reducing air pollution from power plants and expanding electricity access to underserved and poverty-stricken areas of India. The grants provide resources to meet the business and environmental guidelines of the U.S. government, and leverage more than $400 million to expand rooftop and off-grid clean energy in India.
About the Grantee
235 Montgomery St Fl 13
San Francisco, CA 94104
San Francisco, CA 94104
Grants to this Grantee
for the Advisory Finance Group
The Advisory Finance Group (AFG) is a project to provide technical support to a group of central banks, finance ministers, and development finance institutions to integrate climate concerns into fiscal and monetary policy. AFG presupposes that most climate risk will eventually be borne by sovereign governments. Traditional climate advocacy has sought to ameliorate this risk through fiscal (carbon pricing, etc.) and regulatory means. The continuing failure of nation states to enact fiscal climate solutions (to say nothing of the gridlock around fiscal solutions to the 2008 financial crisis) has lead the AFG to propose the development of central bank/monetary-driven risk-based approaches. The theory posits that quantifying and assigning risks to public and large private asset classes would be analogous to carbon pricing mechanisms. In addition, policy success might be easier to achieve at the central bank level rather than through legislative bodies. One key element would be the creation of new AI tools to replace the equilibrium-based tools currently in use to quantify and assign risk.
for India electricity market reform
Climate Policy Initiative is working to develop a roadmap to a flexible, low-carbon Indian electricity system. This grant will assess flexibility needs for the Indian electricity system under higher renewable energy penetrations over the next five to 25 years. The project will evaluate potential resources and policy and market solutions that will help India develop the electricity system flexibility needed to achieve and extend renewable energy goals. This work will complement the work of the India Energy Transitions Commission, but the main audience will be the Reserve Bank of India and key financial players who finance the Indian power grid.