Sameer Jain, Managing Director, Primus Partners, shares his view on the vital role of the private sector in addressing climate change, which could reduce global GDP by 4%, with India facing a 5% loss. Despite needing over $70 billion for climate justice, only 20-25% is covered by government funding, creating a significant gap for businesses to fill.
He highlights that India’s climate goals, including net-zero emissions by 2070 and a 45% reduction in carbon intensity by 2030, present immense opportunities for the private sector. Sectors like renewable energy, green buildings, and sustainable agriculture can boost GDP by $1 trillion and create 50 million jobs. Companies like Renew Power and Tata Power, along with government-backed incentives, are leading the charge in green energy and technology.
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