Private Sector and Innovation Key to Climate Finance said DPIIT Ateesh Kumar Singh

New Delhi, February 13, 2026: It’s imperative both government and industry do more together to unlock greater participation in capital formation and climate-aligned growth, highlighted Mr. Ateesh Kumar Singh, Additional Secretary, Ministry of Commerce & Industry, DPIIT during his address today at ASSOCHAM’s 5th Green Investment & Sustainability Conclave today on the theme “Financing a Climate Resilient Indian Economy: The Next Wave of Innovation for India”.

Delivering the Chief Guest Address, Mr. Ateesh Kumar Singh, Additional Secretary, Ministry of Commerce & Industry, DPIIT, said, “India today stands at a strong macroeconomic position, with robust growth indicators, rising capital expenditure, and sustained policy reforms aimed at improving ease of doing business. However, its important that private sector investment should also move in pace with this momentum. Both government and industry can do more together to unlock greater participation in capital formation and climate-aligned growth.

Furthermore, its Equally important to place innovation and R&D at the centre of our growth strategy. Sustainable development cannot rely only on policy intent; it requires stronger industry-led innovation, deeper research capabilities, and collaborative action across sectors. We are committed to a whole-of-government and whole-of-nation approach and look forward to industry’s constructive feedback on how we can collectively accelerate investments and build a climate-resilient, innovation-driven economy.”

The Conclave brought together policymakers, regulators, financial institutions, investors, corporates, ESG experts and sustainability leaders to deliberate on strengthening private sector participation, accelerating climate finance innovation, and operationalizing India’s sustainable growth frameworks.

Mr. Rajiv Gupta, Co-Chairman, ASSOCHAM National Council for Insurance and President, PB Fintech Ltd., highlighted the evolving role of financial markets and technology in sustainable finance, “The financial ecosystem must rapidly embed sustainability into mainstream investment decisions. Insurance, fintech and capital markets have a critical role in pricing climate risks, incentivizing green innovation and enhancing transparency. Technology-driven solutions and strong ESG disclosure standards will shape the next phase of sustainable finance in India.”

During his address, Mr. Imad N. Fakhoury, Regional Division Director, South Asia Region, IFC, laid out the financing imperative behind India’s green transition. He emphasised: “We need a massive scaling-up of participation from private capital to finance India's green transition and building resilience.” Reflecting on the magnitude of investment required to achieve net zero commitments and build climate resilience, he underscored the importance of blended finance, risk-sharing mechanisms, regulatory clarity and global partnerships to crowd in long-term capital at scale.

Furthermore, Mr. Palash Srivastava, Deputy Managing Director, India Infrastructure Finance Company Limited (IIFCL), spoke about the role of focused green financing in accelerating sustainable shipping and clean mobility infrastructure. He highlighted IIFCL’s support for initiatives such as hydrogen and biofuels bunkering, efforts to facilitate a value-added development fund, and the strengthening of an India-focused shipping line, steps aimed at building a more resilient and future-ready maritime ecosystem.

During the Conclave, ASSOCHAM released the ASSOCHAM–CARE ESG Ratings Knowledge Report, offering insights into emerging ESG integration practices and sustainable finance mechanisms.