Landscape of Green Finance in India
ANNEXURE IV
GOVERNMENT SCHEMES AND INITIATIVES The following table lists some of the important schemes and missions launched by the Government of India. It also lists key takeaways from the annual United Nations Climate Change Conference (CoP), and other policy interventions that impacted green finance investments in a significant way. The events listed below range from 2010 to 2018. Year Event. 2010 National Clean Energy Fund established 2010
Renewable Energy Certificate (REC) and Renewable Purchase Obligation (RPO) mechanism introduced
2010 Jawaharlal Nehru National Solar Mission (JNNSM) launched 2010
National Mission on Sustainable Habitat (NMSH) launched to promote energy efficiency in buildings, management of solid waste and a modal shift to public transport
2010
COP 16 held in Cancún, Mexico. Agreement signed for US$100 billion per annum Green Climate Fund (GCF), and Climate Technology Centre and Network (CTCN).
Through the Finance Bill 2010-2011, a corpus called National Clean Energy Fund (NCEF) creat2010 ed out of cess on coal produced or imported (“polluter pays” principle) to finance and promote clean energy initiatives.
2011
National Mission for Enhanced Energy Efficiency (NMEEE) launched to strengthen the market for energy efficiency by creating a conducive regulatory and policy regime. The following schemes were envisaged: 1. Perform Achieve and Trade Scheme (PAT) 2. Market Transformation for Energy Efficiency (MTEE) 3. Energy Efficiency Financing Platform (EEFP) 4. Framework for Energy Efficient Economic Development (FEEED) A proposal was presented to develop fiscal instruments to leverage financing for energy efficiency through risk mitigation: Partial Risk Guarantee Fund for Energy Efficiency (PRGFEE) Venture Capital Fund for Energy Efficiency (VCFEE) to promote energy efficiency National Energy Conservation Award and Painting Competition
2011
COP 17 held in Durban, South Africa. The conference participants agreed to begin negotiations on a legally binding deal comprising all countries, to be adopted in 2015, governing the period post-2020.
2012 Cycle I of Perform Achieve and Trade Scheme (PAT) launched 2012 Indian Solar Manufacturers Association (ISMA) established 2012 Solar Energy Corporation of India established 2012 National Manufacturing Policy 2011 launched 2012 Modified Special Incentive Scheme (M-SIS) launched 2012 Accelerated depreciation and generation-based incentives withdrawn from wind power projects
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