The UK said on Thursday that it would help India’s green growth with a $1.2-billion package of public and private finance as it joined the Climate Finance Leadership Initiative (CFLI) India partnership. The partnership will be led by a group of leading financial institutions responsible for $6.2 trillion of assets and chaired by Michael Bloomberg, UN Special Envoy on Climate Ambition and Solutions. The initiative “seeks to mobilize investment into India and begin a long-term effort with public, private, and multilateral initiatives to strengthen local enabling environments and facilitate private capital at scale,” the UK, India, and CFLI said in a statement . BloombergNEF estimates that deployment of renewable energy in India must accelerate, and an additional $649 billion in financing may be needed across the power sector for India to reach its 450 GW renewable energy target—a financing gap the private sector can help to fill. India is […]