‘Heavily exposed’: Indian banks ill-prepared to handle challenges of clean energy transition
India is the world’s fifth-largest economy and third-largest emitter of carbon. Its pledge to achieve net zero emission by 2070 will contribute substantially to global efforts in limiting global warming. Some of India’s foremost financial institutions risk being left behind in the transition from fossil fuels, and if current patterns of lending continue, India could be “locked” in carbon intensive development, a new study has found.
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