PFC shares ATF's new report to help in climate initiatives
ATF Annual Report 2023 describes the progress that has been made over the last year in the seven suggested support measures in the ATF Activity Report 2022.
New Delhi: Power Finance Corporation (PFC) shared the new report from the Asia Transition Finance (ATF) Study Group, where PFC has been a core member since July, 2023.
The ATF Study Group, a private-led initiative whose core participants are Financial Institutions with operations in Asia, has published a report to help Asian economies achieve a just and orderly transition toward a more sustainable future.
The ATF Study Group was set up in 2021 in recognition of the important role that transition finance (TF) will play in helping Asian economies move toward net-zero emissions and the challenges they will face. Its goal is to create practical recommendations to supplement existing frameworks, including global standards and taxonomies, when financial institutions (FIs) consider and assess TF cases, as well as to understand challenges and explore potential enablers to TF.Read Also : Hardeep S Puri review developed facilities at consecrated Namo Ghat
In 2022, the ATF Study Group published the ATF Guidelines to provide TF practitioners with practical guides to assess transition projects and the ATF SG Activity Report to share the challenges and suggested support measures to accelerate TF in Asia. These outcomes were introduced at Asian Green Growth Partnership Ministerial Meetings (AGGPM) in September 2022.
This year, the ATF Annual Report 2023 was created after months of discussion among the core members, mainly commercial banks. Development banks, export credit agencies, public agencies, finance associations, and second party opinion providers joined as observers and knowledge contributors. Energy and industry players also participated as guest speakers to share their perspectives.Read Also : Bank of Baroda launches sixth part of Baroda Kisan Pakhwada
The ATF Annual Report 2023 describes the progress that has been made over the last year in the seven suggested support measures in the ATF Activity Report 2022, as well as more granular enablers that are still needed to accelerate TF by referring to the result of a survey to ATF SG members.
The Study Group believes that advancement in these areas will necessitate collaboration among all stakeholders, especially public authorities, TF receivers, and FIs, an area it will focus on going forward.
The Study Group will also continue to explore FI’s practical experiences in navigating TF, sharing real-world knowledge in its collaborative sessions. It will also use peer learning to bring deeper understanding and practical knowledge about various TF guidelines, countries’ policies including national taxonomies, and the development of TF frameworks by FIs.Read Also : IIM Lucknow Triumphs in NTPC Electron Regional Finals, Followed by IIT BHU and IIT Kanpur
News Must Read
- CIL's November coal output jumps 11% to 65.97 million tonnes
- REC's CSR arm signs Rs 8 Crore agreement
- SJVN synchronizes Second Unit of Naitwar Mori Hydro Electric Project
- BCCL starts Commercial Operations of 5.0 MTPA Madhuband Washery
- GAIL's 3 GSRTC Diesel buses converted to LNG: Read More
- HPCL’s first 100 MW mega solar project at Galiveedu
- IREDA IPO Listing Day; Receives Strong Investors Response
- BPCL Dividend of Rs 21 per Share for FY24
- Defence Ministry inks Rs 2956.89 Cr contract with BHEL
- Rajnath Singh Unveils India's Latest Stealth Destroyer 'Imphal'