India: Financial institution CEOs gather for roundtable discussion
- 05 February 2009
In January, The Climate Group in India hosted a Financial Insitutions CEO Roundtable.
This was also an opportunity to highlight growing opportunities that exist for financial institutions in a low carbon economy and to agree next steps to increase engagement across the finance sector. It also provided participants the opportunity to share experiences and discuss perceived barriers to more development of climate friendly products and services.
The meeting was hosted at the HSBC boardroom and chaired by HSBC India country head Ms. Naina Lal Kidwai. Participants from across the finance spectrum included representatives from IDBI, IL&FS, ABN Amro, Punjab National Bank, as well as the British High Commission.
The first presentation was by Mr. Phil Jessup from The Climate Group. Phil's presentation focused on providing an introduction to The Climate Group; providing an update on the science of climate change; and highlighting some of the opportunities available to financiers especially relating to energy efficiency projects.
Mr. Charinjit Singh from the HSBC Climate Change Centre of Excellence presented findings from the recent HSBC Report, Wide Spectrum of Choices: India's climate investment opportunities revealed.
Discussion then considered opportunities in the low carbon economy, such as funding CDM projects and solar thermal energy; the potential of the carbon markets; the need for agreement to a post-2012agreement; and potential barriers and challenges to embedding climate change related business practices within finance institutions.
The meeting was concluded with agreement to several followup actions and agreement to meet within six months time.