The Public Hindu Pilgrimage
More Than Faith Pilgrimages are now more than mere religious acts: they are vast moving spectacles where scale becomes proof of sanctity. The call to become part of a moment eternal yet fleeting draws...
Indian Banks and Environmental Accountability: A New Year of Complicity and Deception?
Indian banks walked nonchalantly into the new year, their indifference as thick as the smoke from industrial projects they finance. Pollution levels soared, environmental concerns, and sometimes protests, were witnessed over big infra projects...
Holding financiers accountable for bankrolling big hydro projects
Teesta Stage III dam ā one of the biggest hydropower dams in India ā was entirely wiped out by last yearās devastating glacial lake outburst flood (GLOF). Hydropower projects, often despite their documented environmental...
Why RBIās financial governance should address social and environmental concerns
The Reserve Bank of India released a new draft of the project finance framework in May. To address risks and impacts, it must integrate social and environmental considerations, writes the author of this commentary.
Climate accountability: Disclose more, put checks before financing mega projects
In a globalised context, insufficient disclosure of climate risks may diminish a bankās attractiveness to international investors.
Report on National Consultation on Environmental and Social Safeguards for Financial Institutions
The Centre for Financial Accountability held a consultative discussion on Environmental and Social Safeguards Policy for Indian financial institutions at the National Consultation on Safeguards in Delhi on December 1, 2023.
RBI Report on Currency and Finance: Still a long way off from environmental, social and climate safeguards
The Reserve Bank of India released its āReport On Currency and Finance 2022-23 :Towards A Greener Cleaner Indiaā earlier this month.
Environmental & social responsibility of financial institutions must go beyond green initiatives
Most Indian banks and financial institutions do not have any environmental and social safeguard mechanisms.
India Pitches for Climate Finance Internationally, But Prioritises āDevelopmentā at Home
The year 2022 saw renewed urgency and consistency in Indiaās pitch to demand āclimate financeā.
At Indiaās Climate, Finance and Policy Intersection, Big Infra Remains King
As of last year, financial institutions from India were the third-largest investors out of six countries financing 80% of the worldās coal investments. A 2021 report found that ICICI, the State Bank of India,...
ESG dilution: Way forward lies in inequality sensitive RE Finance
The first half of this year has been challenging for RE expansion both at the global level and in India. Supply disruptions in coal and Liquified Natural Gas (LNG) owing to the Russia-Ukraine war...