GGGI Launches Green Finance Network–India to Accelerate Finance for Low-Carbon Buildings

Mumbia, India, 29 April 2026 – The Asia Low Carbon Buildings Transition (ALCBT) Project successfully launched the Green Finance Network (GFN)–India through a high-level consultation focused on accelerating finance for low-carbon buildings and sustainable cooling solutions in India.

The event brought together more than 25 stakeholders from across the finance and infrastructure ecosystem, including financial institutions, government agencies, rating agencies, solution providers, developers, and sustainability experts. The consultation aimed to strengthen collaboration and identify practical pathways to scale green finance for sustainable buildings.

Discussions explored opportunities to improve alignment between project development and financing mechanisms. Key topics included the ESG regulatory landscape, climate finance taxonomy, green building rating systems, and innovative financing models to support sustainable infrastructure investments.

The launch of GFN–India forms part of the Global Green Growth Institute’s (GGGI) broader efforts under the ALCBT Project to support India’s transition toward low-carbon and energy-efficient buildings. Through the project, GGGI works with partners to strengthen sustainable finance ecosystems, improve institutional capacity, and support collaboration among stakeholders to scale investments in sustainable infrastructure and cooling solutions.

During the inaugural session, B. S. Venkatesha, Deputy Managing Director and Chief Risk Officer of the National Bank for Financing Infrastructure and Development (NaBFID), highlighted India’s strong market potential, noting several upcoming mega infrastructure projects. He emphasized the importance of developing a consolidated green project pipeline to support the effective deployment of climate finance.

The event convened representatives from key organizations, including the Bureau of Energy Efficiency (BEE), National Bank for Financing Infrastructure and Development (NaBFID), ICICI Bank, Energy Efficiency Services Limited (EESL), and International Finance Corporation (IFC), alongside industry experts and private sector stakeholders.

In his keynote address, K. C. Panigrahy, Director General of the Bureau of Energy Efficiency (BEE), Ministry of Power, Government of India, emphasized that as India’s building stock continues to expand, rising cooling demand will significantly increase energy use and carbon emissions. He stressed the need for standardized benchmarks, mandatory building rating systems, strong compliance frameworks, and practical tools, including those developed under the ALCBT Project, to support the country’s long-term sustainability goals.

Moving forward, GFN–India will continue to engage stakeholders across the finance and buildings ecosystem through thematic working groups and collaborative initiatives. By fostering stronger partnerships and improving market readiness, the ALCBT Project aims to support the development of a scalable and investment-ready pipeline of low-carbon building projects in India while advancing the country’s sustainable urban development agenda.

Left to Right: Ashok Bonam (Regional Coordinator, ALCBT-GGGI), Julie Robles (Project Manager, ALCBT-GGGI), Soumya Garnaik (Country Representative, GGGI India), K. C. Panigrahy (Director General, BEE, Ministry of Power, Government of India), B. S. Venkatesha (Deputy Managing Director & Chief Risk Officer, NaBFID), Ashok Thanikonda (Lead, ALCBT-GGGI)

About ALCBT

The Asia Low Carbon Buildings Transition (ALCBT) Project is a five-year initiative (2023-2028) that seeks to reduce GHG emissions by catalyzing nationwide transitions towards low-carbon buildings in five Asian countries: Cambodia, India, Indonesia, Thailand, and Vietnam. The project is funded by the Government of Germany’s Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety (BMUKN), through the International Climate Initiative (IKI), and is implemented by a consortium led by GGGI, in partnership with the ASEAN Center for Energy (ACE), Energy Efficiency Services Limited (EESL), and HEAT GmbH.

In India, the project operates under the guidance of the Ministry of Housing and Urban Affairs (MoHUA). Capacity building efforts in the country will benefit over 2,000 individuals, including government officials, architects, engineers, building developers and owners, ESCOs, financial institutions, material manufactures, and technology providers, to promote low carbon building design and sustainable practices. Learn more about project activities in India here. 

For more information, visit:  https://alcbt.gggi.org

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