India's Green Transition: World Bank’s Role in Advancing Low-Carbon Growth

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00:07 As the world's 5th largest economy and the world's most populous country,

00:13 India's transition to a less carbon intensive and a more resilient economy

00:17 matters for each citizen in India as well as for the global community.

00:23 The World Bank has been a key development

00:25 partner in India's transition to low carbon energy

00:30 by helping bring direct financing,

00:33 by helping mobilize private capital,

00:35 and by helping deploy and scale up new technologies.

00:38 The loan package we're presenting

00:41 will help

00:42 deepen India's green transition.

00:45 Our energy transitions program in India is built around 5 key pillars.

01:08 The 4th pillar in our energy transitions engagement

01:11 addresses the hard to abate sectors,

01:13 transport,

01:14 industry.

01:15 This is where the most significant growth of emissions

01:18 will occur in India over the next decade.

01:21 Last fiscal year,

01:22 the bank board approved the first DPO of $1.5 billion

01:27 to support India's national green hydrogen emission

01:30 and renewable energy grid integration.

01:32 It aims to decarbonize the power industry sector

01:36 to help India achieve its climate commitment.

01:38 The second operation

01:40 which we are presenting today takes it one step further

01:44 by supporting initiatives by the government of India

01:47 to do two things a encourage

01:50 domestic production of green hydrogen in India,

01:54 and encourage uptake

01:56 and domestic demand for green hydrogen by.

01:59 Indian industries,

02:00 including in hard to abate sectors such as fertilizers or refineries.

02:05 Besides,

02:06 the program will help India further operationalize its national carbon market.

02:11 This will encourage industries to adopt

02:14 climate friendly technologies like green hydrogen

02:17 and reduce their carbon emissions even further.

02:20 We are working together as a one world bank.

02:24 IVRD IFC and MIGA will continue working together to move India further along

02:30 the green growth path.

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As the world's 5th largest economy and the world's most populous country, India's transition to a less carbon intensive and a more resilient economy matters for each citizen in India as well as for the global community. The World Bank has been a key development partner in India's transition to low carbon energy by helping bring direct financing, by helping mobilize private capital, and by helping deploy and scale up new technologies. The loan package we're presenting will help deepen India's green transition. Our energy transitions program in India is built around 5 key pillars. The 4th pillar in our energy transitions engagement addresses the hard to abate sectors, transport, industry. This is where the most significant growth of emissions will occur in India over the next decade. Last fiscal year, the bank board approved the first DPO of $1.5 billion to support India's national green hydrogen emission and renewable energy grid integration. It aims to decarbonize the power industry sector to help India achieve its climate commitment. The second operation which we are presenting today takes it one step further by supporting initiatives by the government of India to do two things a encourage domestic production of green hydrogen in India, and encourage uptake and domestic demand for green hydrogen by. Indian industries, including in hard to abate sectors such as fertilizers or refineries. Besides, the program will help India further operationalize its national carbon market. This will encourage industries to adopt climate friendly technologies like green hydrogen and reduce their carbon emissions even further. We are working together as a one world bank. IVRD IFC and MIGA will continue working together to move India further along the green growth path.

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