Indian Institute of Management (IIM) Lucknow convened a roundtable discussion in collaboration with the Reserve Bank of Innovation Hub (RBIH). The discussion was regarding Climate Finance and was held on April 16, on the IIM campus. This was stated in a press release received from the institution.

The roundtable aimed to facilitate in-depth discussions on climate-related issues encountered by Indian financial institutions. This event brought together stakeholders from various sectors of the Indian climate finance ecosystem under one roof.

Representatives from banks such as State Bank of India (SBI), Axis Bank, and Federal Bank; and non-banking financial companies like Tata Capital, were a part of this roundtable conference.

Discussions at the roundtable primarily focused on assessing the readiness of Indian financial institutions to address the impact of climate change and exploring strategies to leverage technology in navigating the challenges posed by climate change.

Rajesh Bansal, Chief Executive Officer (CEO), of Reserve Bank Innovation Hub, illustrated the significance of its ongoing project in contributing to the development of possible interventions for addressing climate-related challenges faced by Indian financial institutions and consumers.

Vikas Srivastava, Dean of Programmes at IIM Lucknow, emphasised the critical role of financial institutions in internalising concerns for climate change from both mitigation and adaptation perspectives.

He also moderated the first core session of the roundtable, focusing on the Readiness of Indian Financial Institutions to Tackle the Impacts of Climate Change.

Another core session of the roundtable was centred around the theme Leveraging Technology for Navigating the Climate Challenge. Moderated by Ranjeet Rane, Program Coordinator at RBIH, participants discussed how technology can enable financial institutions to address climate risks and create customised solutions to adapt and mitigate the risks associated with climate change.