Green Hydrogen Organization announces ProClime as their Carbon Partner in India at CETFiS

G20 Secretariat & Ministry of New and Renewable Energy joined hands with the Green Hydrogen Organization to conduct Climate and Energy Transition Finance Summit (CETFiS) ahead of COP28

With a focus on the Global South, CETFiS advocated for blended finance models and a different financial instruments as primary sources of funding

Discussions centred around guarantee instruments and mechanisms to de-risk climate investments.

New Delhi, November 29: The two-day Climate and Energy Transition Finance Summit (CETFiS) was concluded on Wednesday 29 November. Organized by the Ministry of New and Renewable Energy and the G20 India secretariat in collaboration with Green Hydrogen Organization, the event saw a confluence of global leaders and industry stalwarts to chart a transformative path towards climate finance.

The event saw 200 participants contributing to the Delhi Message on Climate Finance, issued on the eve of the UN Climate Conference COP28, which Prime Minister Narendra Modi is set to attend in Dubai. Issued by the Green Hydrogen Organisation and its partners in India, the Delhi Message offers a five-point plan for financing the green hydrogen economy.

Unprecedented amounts of capital is required to finance the transition away from fossil fuels. At the same time, there are huge opportunities to tap capital markets, with the right enabling financial solutions. On the eve of the Forum, Amitabh Kant, G20 sherpa sent the message that “The Climate and Energy Transition Finance Summit organised by the Green Hydrogen Organisation arrives at a pivotal moment in our global commitment to combat climate change”.

The Green Hydrogen Organisation, a global non-profit that is a leading voice advocating for the adoption of green hydrogen, announced ProClime, an upcoming climate action company as their carbon partner in India.

Deliberating on the contours of energy transition Jonas Moberg, CEO, Green Hydrogen Organization said ” It is truly impressive to hear from so many Indian companies about their enormous plans to become international leading producers of green hydrogen, green ammonia and other green fuels.The need for transitioning to green sources of energy has never been more urgent. With our partnership with ProClime, our vision to bring the power of the Carbon Markets to the GH2 space in India. We need substantial investments and innovative financial mechanisms to propel climate action forward. This makes collaboration vital, and that is what we were seeking to do.”

Talking about the partnership with Green Hydrogen Organization, Kavin Kumar Kandaswamy, CEO, ProClime said, “The Green Hydrogen Organisation and ProClime have joined forces to enhance the viability of carbon funding initiatives while pursuing the registration of the GH2 standard as a Voluntary Standard. Transitioning to hydrogen holds the key to slashing emissions globally. India stands at a pivotal crossroads, uniquely positioned to lead this transformative shift. This strategic collaboration aims to transcend borders, facilitating the global adoption of GH2 with increased certainty and assurance.”

“Industry should continue to work together like this and speak with one voice on what is needed for the green fuels economy to take off here in India.” said Tarun Kapoor, Special Advisor to Prime Minister Narendra Modi during the conclusion of the Forum.

“There is a growing understanding of how better functioning capital markets can bring in the financial resources needed to build our solar and wind parks and facilities to produce the green fuels our future requires” said Sanmit Ahuja, Senior Advisor, Green Hydrogen Organisation and chair of the Delhi Forum.