Goa to become first state to set up carbon & climate resilience fund

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Goa has become the first state in the country to initiate the setting up of a low carbon and Climate resilient green fund, with assistance from the, while NitiAayogis helping the state complete the required procedures.
The fund, once set up, will be operated by a dedicated project management unit, and will help Goa to submit projects before different national and international agencies to access finance for carbon and climate-resilient investments. To begin with, Goa has proposed to set up a $5 million fund to carry out the necessary studies for the project.

Without any liabilities to the state, the project will first involve carrying out a study by June 2024, which will assess Goas climate and development landscape, carry out a low carbon and climate resilient scenario analysis, and prepare

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a draft blueprint of a blended finance facility for the state.

The studies to be carried out will be baseline assessments (for Goa) of current climate risks and vulnerabilities, the states emissions profile and trends, its climate commitments, policies, and institutional framework.
Accordingly, a detailed scenario analysis across sectors will be developed with time frames, to identify ways to increase resilience, reduce greenhouse gas emissions, and to estimate related financing needs to mitigate climate risks.