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Ecology & Environment
Mahesh

12/07/23 06:22 AM IST

IFSCA and Climate Policy Initiative sign MoU to cooperate on Sustainable Finance

In News
  • The International Financial Services Centres Authority (IFSCA) and Climate Policy Initiative - India (CPI) have signed a Memorandum of Understanding (MoU) for mutual assistance and cooperation to increase mobilisation of global sustainable capital flows into India.
About the MoU
  • Mobilisation of sustainable finance is critical to achieving transition to green and resilient economies.
  • IFSCA (International Financial Services Centres Authority) has taken significant steps to accelerate global sustainable capital flows by creating a conducive regulatory environment, based on international best practices, focused especially on the needs of India and developing countries.
  • With deep expertise in finance and policy, Climate Policy Initiative (CPI) is an analysis and advisory organisation that works to improve the most important energy and land use practices around the world.
About IFSCA
  • The IFSCA is a statutory authority established under the International Financial Services Centres Authority Act, 2019 (“IFSCA Act”) with a mandate to develop and regulate the financial products, financial services, and financial institutions in the International Financial Services Centres (‘IFSC’).
  • GIFT-IFSC is the maiden IFSC in India.
  • The IFSCA aims to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region.
About Climate Policy Initiative
  • Climate Policy Initiative is an analysis and advisory organization with deep expertise in finance and policy.
  • Our mission is to support governments, businesses, and financial institutions drive economic growth while addressing climate change.
  • CPI has six offices around the world in Brazil, India, Indonesia, the United Kingdom, and the United States.
  • CPI India Private Limited has been working to support India in fulfilling its global climate change commitments.
Source- PIB

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