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Now that India has scored a perfect 10 in G20 diplomacy and achieved a consensus Delhi Declaration, the obvious question is: What next?
Arguably, the pandemic and the Ukraine crisis have brought the world together to unite against climate change, one of the commonly perceived threats rapidly engulfing the world. Out of the 12 commitments in the Declaration, eight refer to sustainable growth, climate change and inclusivity.
A key role is assigned to multilateral development banks (MDBs) in providing climate finance from their own resources and mobilising finance from other financial institutions that have the capital, not necessarily the appraisal capacity. Asian Development Bank (ADB), for example, aims to achieve a co-financing ratio of 1:2.5 by