Pavittarbir Saggu
When Wallace S. Broecker first coined the term global warming in 1975, it was regarded as a distant challenge. Decades later, climate change is no longer a hypothetical concern but a lived reality, with its disruptive impacts felt globally. While nations work to mitigate emissions, existing changes to the climate are already causing widespread devastation. Among the most vulnerable are India and the Global South, given their dense populations and geographic diversity. Although India has taken significant steps toward a green transition, the focus remains heavily skewed towards climate mitigation rather than adaptation. This imbalance is further exacerbated by private sector hesitancy to invest in adaptation projects, placing the onus squarely on government-led public expenditure to address these pressing needs.
India’s public investments in climate initiatives have predominantly centered on mitigation, leaving adaptation measures underfunded. For instance, the National Adaptation Fund for Climate Change (NAFCC), set up to support adaptation projects, has experienced a steady decline in funding. Allocations fell from INR 115.36 crore in 2017-18 to a mere INR 34 crore in 2022-23. Simultaneously, India’s energy transition is advancing rapidly, with the country ranking 63rd on the World Economic Forum’s Energy Transition Index and moving steadily toward its 2030 goal of 500 GW renewable energy capacity.