UK and Indian Leaders Commit to Work Together to Tackle Climate Change and Generate Green Growth
Gathering at the inaugural UK-India Sustainable Investing Forum on 7th November, British and Indian leaders agreed to form a new partnership for green growth. The landmark event brought together senior ministers and over 200 business representatives at London’s Guildhall, showcasing the strength of the partnership between India and Britain.
The event, convened by the India Professionals Forum, the City of London, the High Commission of India, and supported by the British Foreign and Commonwealth Office, saw British and Indian ministers, the City of London Mayor, and the Indian High Commissioner brought together for the first time with leaders in sustainable investment from the UK and India.
India is a country celebrated for its diversity and growth. India’s sheer size and rapid expansion provide both opportunity and challenge to deliver sustainable economic solutions. The UK is a world-renowned leader in sustainable financing with London pioneering the financial world in green bonds and viable solutions.
For India, the Forum created a bold opportunity for a rapidly emerging nation to increase the green investment it needs to achieve sustainable growth. For the UK, the forum – supported by the Minister of State for the Commonwealth, Lord Ahmad of Wimbledon – provided a means to deepen ties with friends and economic partners and to help address the global green agenda.
Speaking at the event, the Rt. Hon. Peter Estlin, Lord Mayor of London, said:
“Green Finance is an exciting new area where the City of London has real expertise. $25 billion of green bonds are listed here in London. We are extremely well positioned to drive our commitment to support the greening of India’s economic growth story and strengthen the historic ties between our two countries.”
President of the India Professionals Forum, Dr Mohan Kaul, said:
“India is demonstrating world leadership in combating climate change, and Indian business is leading in delivering on corporate social responsibility initiatives to tackle the global green agenda. I welcome the bold commitment given today by the leaders who attended the event, and the Forum will work with both partners to build on this solution and bridge any gaps.”
Her Excellency Ruchi Ghanashyam, the High Commissioner of India to the UK commented:
“The UK-India Sustainable Investing Forum is a great commitment, bringing together leaders from India and the UK to deepen our collaboration and relationship – it is not only a win-win for both our countries, but a model for global partnership in tackling the world’s environmental challenges.”
Green Finance Keynote Address
Focusing on understanding the barriers that are restricting the flows of capital into viable green projects in India and the challenges that Indian companies face with raising finance. It makes recommendations are on what should change to remedy this. The report is an output of the City of London convened UK India Green Finance Working Group.
Other prominent business leaders and investment experts speaking at the Forum included Howard Sherman, Executive Director of MSCI ESG Research; Tatiana Boroditskaya, Director Emerging Market Credit, UBS; Loknath Mishra, Managing Director and CEO, ICICI Bank UK; Srini Sundaram, Founder and CEO, Agvesto; and Manish Malhotra, AVP and Head FinTechs, Infosys.
Topics discussed at the Forum included sustainable investing in India’s emerging environmental, social and governance (ESG) asset class; partnering to achieve sustainable goals; sustainability strategies for Indian trade and infrastructure investment; India’s Clean Ganges Sustainable Infrastructure Programme; and the regulatory, market and fintech developments required to catalyse sustainable investing solutions, unlock market efficiencies and drive scale for the next generation.