GEF Climate Impact Advisory

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The International Finance Corporation (IFC), in collaboration with the GEF, is launching a project to enhance the climate resilience and sustainability performance of climate-focused businesses in India. This initiative aims to develop digital tools for climate risk assessment and align these businesses with global climate frameworks, thereby supporting India's ambitious climate goals and contributing to the country's transition to a low-carbon economy. This project consists of two main components: 1. Development of Digital Tools for Climate, Sustainability, and Impact Performance Monitoring: - A user-friendly digital platform will be created to monitor climate risks and greenhouse gas (GHG) emissions. The platform will integrate advanced geospatial data analysis and existing climate data sources to provide precise evaluations and proactive risk management. - The digital tool will support the operationalization of GEF's impact framework, enabling portfolio companies to collect, verify, monitor, and report on impact indicators, ensuring meaningful and actionable impact assessments. - Tools for GHG Scope 1, Scope 2, and Scope 3 Carbon Footprint Assessment and Life Cycle Analysis (LCA) will be incorporated to promote transparency and accountability in carbon footprint management. - A robust system will be established for monitoring sustainability, development impact, and net-zero progress at the fund level, facilitating continuous evaluation and data-driven decision-making. 2. Climate Framework Alignment and Capacity Building: - The project will facilitate the alignment of portfolio companies with the Task Force on Climate-related Financial Disclosures (TCFD) framework, providing necessary tools and training to navigate climate risks and integrate these practices into their business strategies. - Comprehensive climate risk assessments will be conducted for portfolio companies, identifying alignment gaps with international standards and enhancing their climate risk governance, strategy development, and risk management practices. - Customized training and workshops will be provided to build capacity for climate resilience and net-zero strategies, fostering a culture of continuous learning and development. - The project will support the development and integration of Net Zero action plans within the core business strategies of portfolio companies, promoting sustainable growth and adherence to international best practices. By project completion, it is expected that GEF's portfolio companies will have adopted comprehensive digital tools for climate risk and sustainability monitoring, aligned their operations with the TCFD framework, and integrated Net Zero action plans into their core business strategies. This initiative aims to foster sustainable growth and transformative climate impact in India's climate-focused business sector.