Financial sector emerges as backbone of green economy: YES BANK chief

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Financial sector emerges as backbone of green economy: YES BANK chief

February 17, 2018 Anand Gupta

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Rana Kapoor, MD & CEO YES BANK, has said that solar energy is at an inflection point and the key to its inevitable expansion depends on the ecosystem players and financial sector that is emerging as the backbone of this growing green economy.

He said this during the inaugural address of the World Sustainable Development Summit in Delhi on February 16.

India’s renewable energy capacity is expected to double, presenting an untapped investment potential of $448 billion. Mr. Kapoor said he believes that cohesive and concerted efforts amongst stakeholders can enable the government to achieve its target of generating 175 GW of renewable energy by 2022.

Mr. Kapoor also underscored the importance of the formation of the International Solar Alliance, which was jointly launched by Prime Minister Narendra Modi and the President of France in November 2015 on the sidelines of the U.N. Climate Conference, in enhancing the solar movement globally.