Reserve Bank of India Governor, Mr. Shaktikanta Das, has urged the urgent bolstering of capital flows to emerging market economies (EMEs) for green projects, emphasizing the current skewness favoring advanced economies. Speaking at the 59th SEACEN Governors' Conference in Mumbai, Reserve Bank of India Governor, Mr. Shaktikanta Das stressed the collaborative need to address climate change, highlighting the inadequacy of individual country-level strategies. He underlined the imbalance between significant investment needs for a green transition and financial flows, primarily concentrated in advanced economies. He called for a focused effort to enhance green capital flows to EMEs while cautioning against overlooking potential financial stability implications associated with the green transition. Additionally, he advocated for revitalizing multilateralism and proposed critical agreements on mineral and food corridors to safeguard global food security, emphasizing fairness and equity in these arrangements.
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