Private capital yet to embrace energy transition , says CEA Nageswaran

Private capital is not fully prepared to embrace the risks and opportunities associated with funding the energy transition, according to Chief Economic Advisor (CEA) V Anantha Nageswaran.

During his address at the Raisina Dialogue 2024 organised by the Observer Research Foundation on Thursday, Nageswaran mentioned that explicit costs for further derisking by multilateral agencies or sovereigns may have to be factored in.

While urging multilateral development banks to act on the recommendations of the independent expert group under India’s Group of Twenty (G20) presidency to mobilise private capital, the CEA added, “There is a lot of talk about funding energy transitions and climate change requirements. But, in truth, much of the talk remains just that.”