Announcing $18 Million Initial Investment to Support India's Climate Leadership
Dated: December 17, 2016
MacArthur has announced more than $18 million in grants to support India’s growing national, regional, and global leadership on climate change. MacArthur has maintained an office in India since 1994.
The Foundation will provide resources for civil society organizations to work with the Indian government on climate policy, spur renewable energy production by filling critical knowledge gaps, encourage the adoption of clean technology, and explore carbon pricing and emissions trading. This funding marks MacArthur’s initial investment to support climate solutions in India since announcing its broader commitment last year to reduce greenhouse gas emissions and encourage international leadership and cooperation.
“India aspires to bring electricity to millions while also limiting its contributions to global warming,” said MacArthur Foundation President Julia Stasch. “The Government of India has already demonstrated admirable leadership on addressing climate change with the commitments it made in the Paris Agreement. MacArthur enjoys strong working relationships with Indian research institutions, NGOs, and the government, and we look forward to continued productive partnerships and even further progress on addressing climate change in the future.”
The announcement brings to more than $103 million MacArthur’s total grantmaking in support of its Climate Solutions big bet launched in 2015. MacArthur is already focused on building and sustaining sufficient U.S. leadership to ensure that the nation meets its own responsibilities in addressing climate change. The Foundation is also exploring ways to use grants, impact investments, and other tools, to be a constructive partner to other countries, such as China, whose leadership and action are also critical to addressing a more sustainable future for the planet.
The Paris Agreement requires that all participating countries submit new and increasingly ambitious climate plans by 2020 and every five years thereafter. The purpose is to assess whether countries are making sufficient progress toward the goal of limiting global temperature rise to below 2 degrees Celsius from pre-industrial levels. MacArthur’s initial grants are aimed at helping Indian institutions develop solutions through research and analysis; create the infrastructure to monitor and model progress through reliable, high-quality data; incubate and support small- and medium-size renewable energy projects; and explore market-based environmental mechanisms to limit emissions.
“Ultimately, India’s climate leadership will be determined by its ability to follow through on the pledges it made in Paris,” said Moutushi Sengupta, Director of MacArthur’s India office. “So we want to work with Indian institutions in an open, inclusive way to help lay the groundwork and build the capacities necessary to accelerate the country’s transition to a low-carbon future.”