4th December 2024: India’s apex industry body for the alternate capital ecosystem, Indian Venture and Alternate Capital Association (IVCA), hosted GreenReturns Summit 2024 at Taj Palace Hotel in New Delhi on 2nd and 3rd December 2024. Chaired by Shri Jayant Sinha, Former Minister of State for Finance, and Former Minister of State for Civil Aviation, Government of India, the summit drew over 400 thought leaders, policymakers, investors, and entrepreneurs who weighed in on India’s climate investment potential and explored the way forward for India’s environmental, social, and governance (ESG) funds.
IVCA’s GreenReturns Summit drew finance professionals from the Global North, along with prominent Indian leaders, policymakers, and institutional investors, including sovereign wealth funds, pension funds, and private equity firms, as well as 150+ unique funds and 100+ startups with the goal of increasing the flow of commercial and impact financing as well as developing strategic frameworks for climate adaptation and resilience. Through fireside chats, panels, the summit fostered strategic dialogue on channelling global institutional capital into climate-resilient projects.
Rajat Tandon, President, IVCA, added, “GreenReturns Summit 2024 has been a powerful testament to the collective drive of our industry to tackle climate change and support sustainable investment practices. The insightful discussions and actionable outcomes from this summit will pave the way for a greener future. At IVCA, we are committed to supporting initiatives that not only charge innovation but also contribute to the long-term health of our planet.”
The summit featured several notable speakers, including Shri Nitin Gadkari, Minister of Road Transport and Highways of India; Shri Jayant Sinha, Former Minister of State for Finance, and Former Minister of State for Civil Aviation, Government of India; Shri Amitabh Kant, G20 Sherpa of India; Shri NK Singh, Former Chairman of the 15th Finance Commission, and Former Member of Parliament, Government of India; Shri K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA); Shri Pradeep Ramakrishnan; Executive Director, IFSCA; and Dr V Anantha Nageswaran; Chief Economic Adviser, Government of India.
Emphasising how India needs to follow the green frontier development model, Shri Jayant Sinha said, “Net zero is net positive for India. To achieve this, we must adopt the green frontier development model by ramping up renewables, enforcing EV mandates, scaling green businesses like hydrogen, and integrating into the global carbon market. The modelling for India’s path to net zero by 2070 highlights a pressing need—by 2030, 20-30% of vehicles sold
must be electric, yet we have miles to go. Climate change is not just a threat; it’s also a massive disruptor. Disruption fuels innovation, and innovation drives returns. The green revolution is here, and it’s reshaping markets and opportunities for investors.”
Covering a vast spectrum of topics—from India’s goal to net zero emissions by 2070 to mobilising climate finance and more—speakers and panellists delved into the challenges and potential of climate finance throughout the two-day event. The summit served as a pivotal platform to strategise on crucial aspects of green investment, while highlighting the need for strategic collaboration among investors, governments, and industry leaders in achieving meaningful change.