NABARD and ADB have partnered to promote climate resilience in India’s agriculture, natural resources, and rural (ANR) development sectors.
As part of this initiative, NABARD has set up a Technical Support Unit (TSU) in partnership with the Bill and Melinda Gates Foundation (BMGF). This will allow it to better address the challenges posed by climate change, especially concerning India’s rural livelihood and agriculture sectors.
Intellecap Advisory Services Private Limited will manage the TSU. It will focus on climate adaptation and mitigation.
About 55% of the assets in the Indian banking sector are vulnerable to climate risks, according to Shaji KV, Chairman, NABARD. He emphasized the significance of improving climate resilience during the event. He said, “NABARD is committed to channeling global pools of climate capital into India’s ANR sector and supporting rural financial institutions in India to identify and mitigate climate risks.”
NABARD is concentrating on establishing a route to climate neutrality in its operations at the same time.
Mio Oka, Director, Agriculture, Food, Nature, Rural Development Sector Office, ADB, and Srivalli Krishnan, Senior Program Officer, BMGF, were present at the launch.
