Close Menu
Finance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Facebook X (Twitter) Instagram
Trending
  • Scotland a ‘safe bet’ for investors, Holyrood’s Finance Secretary insists
  • Princess Eugenie-linked art gallery is charged with breaching Russian sanctions ‘after supplying luxury goods to Moscow-based collector’
  • EU finance ministers wrestle with €140bn Ukraine loan as other options fizzle
  • “No art investing experience? No problem.” Masterworks announced that average investors can buy $20 shares in individual paintings often only owned by the rich. Zachary Small, a New York Times reporter covering the art world, explains why some experts s – facebook.com
  • MNCs unveil major strategies and increased investments in China
  • 5 Best Investments for the Upper Class To Make Before 2026
  • Princess Eugenie’s art gallery charged with breaching Russian sanctions after ‘supplying painting to Moscow collector’
  • China accuses Washington of stealing $13 billion worth of Bitcoin in alleged hack — 127,272 tokens seized from Prince Group after owner Chen Zhi was indicted for wire fraud and money laundering, U.S. alleges – Tom's Hardware
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
Finance ProFinance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Finance Pro
Home»Finance»Financing India’s heat resilience – CPI
Finance

Financing India’s heat resilience – CPI

August 8, 20245 Mins Read


12

As the global temperature rises, India grapples with increasingly frequent and prolonged heatwaves. The situation’s urgency is underscored by estimates that predict a 15-fold increase in heatwaves over the next 30 years if the global temperature rises by 2º C.

This year, India, the largest democracy in the world, witnessed historic elections, and the extreme heat was a hot topic in the media coverage for the elections, with outlets like Al Jazeera, Time, CNN, and The Guardian all wondering if temperatures above 45 degrees Celsius affected voter turnout. Hundreds of voters died due to the heat, including two dozen poll workers.

Heat severely impacts India’s economy, labor productivity, and public health. Between 2001 and 2020, India lost 259 billion hours of labour annually. The heatwave in 2022 slashed wheat yields by 15-20% and milk production by 15%. Chicken prices for farmers were reduced by 50% as they rushed to sell them before succumbing to the heat. Rising vegetable losses also drive up food inflation, burning a hole in everyone’s pocket. Additionally, a University of Cambridge study finds that the 2022 heatwave increased the vulnerability of almost 90% of Indians to health issues and higher risks of death.

So, what is the government doing about it, you ask?

In 2019, the National Disaster Management Authority (NDMA), a government body responsible for disaster management in India, released guidelines on managing heatwaves. These guidelines encouraged states and cities to draft Heat Action Plans (HAPs). The authority started prepping for the 2024 heatwave in October 2023 and advised states to upgrade their Heat Wave Action Plans (HAPs). In February 2024, NDMA held a heatwave preparedness workshop for state ministries and departments, demonstrating its proactive approach to managing heatwaves.

However, a comprehensive study by the Centre for Policy Research (CPR) found several issues with HAPs. These issues include a lack of local context, inadequate funding, and poor targeting of vulnerable groups. For instance, the study highlighted that Mumbai’s urban heat island effect acts as a heat multiplier and needs special attention, but it isn’t as big of an issue in rural Uttar Pradesh. Additionally, the study revealed that only 30% of HAPs discuss funding mechanisms, and most call for the departments to self-allocate resources, indicating a significant gap in financial planning.

While there are no estimates for public investment in heat resilience programs in India, a recent Climate Policy Initiative study shows that INR 3,260 billion (USD 43.8 billion) of central government spending on CSS already contributes to climate resilience, with states contributing even more. Despite the public investment, the adaptation financing gap persists. Therefore, with increasing and prolonged incidences of heat waves, a more focused approach to financing and implementing heat management solutions is needed.

The need for more significant funding to adapt to heat and build resilience cannot be overstated. It is crucial to attract substantial financial support to address the heat resilience issue effectively.

For developing countries like India, poverty alleviation, food security, and sustainable development are at the heart of all adaptation and resilience activities. Therefore, investing in social protection and development is essential for enabling heat resilience.

Public financing will likely play a significant role in financing heat resilience. So, mainstreaming heat management considerations in development and infrastructure schemes is essential. The good news is that central and state governments in India have several schemes that already include components to address and mitigate heat risk. For example, the Rashtriya Krishi Vikas Yojana contains provisions for shelter and water to reduce livestock heat stress, and the Pradhan Mantri Awas Yojana – Urban can help build green and heat-resilient homes. Aligning HAPs with these schemes and focusing on implementing these provisions could unlock millions of dollars for heat resilience.

In addition to schemes, India has several thematic funds that can be utilized to build resilience to heat. For example, the Compensatory Afforestation Fund Management and Planning Authority (CAMPA) Fund, which is perpetually under-utilized, can finance afforestation and some nature-based solutions.  Funds such as National Disaster Risk Management Fund and State Disaster Risk Management Fund can also help.

Most HAPs call for state/local departments to allocate funds for implementation. A report by Climate Policy Initiative recommends that in cases where state/local are responsible for financing adaptation initiatives, increasing state fiscal capacity is crucial. The report suggests that India’s 16th Finance Commission includes vulnerability-related parameters as a variable when setting the criteria and formula for allocating funds to state governments.

However, public funding will not be enough, and attracting private finance to implement heat action in India is essential. Several startups are rising to the occasion. For example, EcoZen provides solar energy cold storage solutions, while Sahaja Seeds offers heat and drought-resistant seeds. Since the affordability of some of these solutions can be an issue, the government can help with subsidies or green public procurement, a strategy where public entities purchase goods and services with lower environmental impacts, to encourage the private sector and scale these initiatives. The private sector is also experimenting with business models to reduce upfront costs, and in Pune, innovative models like Cooling as a Service are being tested.

In addition to financing, it is essential to establish early warning systems and create awareness among the community. Community-led initiatives will ensure last-mile delivery of the resilience plans and funding. Partnerships with civil society and community organizations are paramount to ensure that the recurring nature of heat waves can be dealt with sustainably.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Scotland a ‘safe bet’ for investors, Holyrood’s Finance Secretary insists

November 13, 2025 Finance

EU finance ministers wrestle with €140bn Ukraine loan as other options fizzle

November 12, 2025 Finance

How To Prepare For The Cross-Functional Future Of Finance Leadership

November 12, 2025 Finance

Google to integrate Kalshi, Polymarket predictions into its finance AI tools

November 11, 2025 Finance

What is climate finance — and why the fight over trillions is stalling global climate action

November 11, 2025 Finance

BB Governor Mansur earns higher grade than predecessor in Global Finance’s 2025 ranking

November 11, 2025 Finance
Add A Comment
Leave A Reply Cancel Reply

Don't Miss

Scotland a ‘safe bet’ for investors, Holyrood’s Finance Secretary insists

November 13, 2025 Finance 3 Mins Read

Scotland would be a “safe bet” for investors, the country’s Finance Secretary insisted, ahead of…

Princess Eugenie-linked art gallery is charged with breaching Russian sanctions ‘after supplying luxury goods to Moscow-based collector’

November 13, 2025

EU finance ministers wrestle with €140bn Ukraine loan as other options fizzle

November 12, 2025

“No art investing experience? No problem.” Masterworks announced that average investors can buy $20 shares in individual paintings often only owned by the rich. Zachary Small, a New York Times reporter covering the art world, explains why some experts s – facebook.com

November 12, 2025
Our Picks

Scotland a ‘safe bet’ for investors, Holyrood’s Finance Secretary insists

November 13, 2025

Princess Eugenie-linked art gallery is charged with breaching Russian sanctions ‘after supplying luxury goods to Moscow-based collector’

November 13, 2025

EU finance ministers wrestle with €140bn Ukraine loan as other options fizzle

November 12, 2025

“No art investing experience? No problem.” Masterworks announced that average investors can buy $20 shares in individual paintings often only owned by the rich. Zachary Small, a New York Times reporter covering the art world, explains why some experts s – facebook.com

November 12, 2025
Our Picks

CEO of Binance Richard Teng on the future of cryptocurrency

November 12, 2025

How To Prepare For The Cross-Functional Future Of Finance Leadership

November 12, 2025

‘A tipping point’?: Why this 1768 painting could be the real birth of modern art

November 12, 2025
Latest updates

Scotland a ‘safe bet’ for investors, Holyrood’s Finance Secretary insists

November 13, 2025

Princess Eugenie-linked art gallery is charged with breaching Russian sanctions ‘after supplying luxury goods to Moscow-based collector’

November 13, 2025

EU finance ministers wrestle with €140bn Ukraine loan as other options fizzle

November 12, 2025
Weekly Updates

Watershed Lessons opens at the Art Gallery of Sudbury

October 18, 2025

Fed split over rate cuts

September 14, 2025

Grand Jury Charges Pastor, Wife in Alleged Multi-Million Dollar Cryptocurrency Scam

July 23, 2025
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
© 2025 Finance Pro

Type above and press Enter to search. Press Esc to cancel.