NABARD - National Bank For Agriculture And Rural Development

Latest Update

NABARD RELEASES CLIMATE STRATEGY 2030

In a significant stride towards sustainable development, NABARD unveiled its Climate Strategy 2030 document on the occasion of World Earth Day. The document was released by Shri Shaji K V, Chairman NABARD. This comprehensive strategy aims to address India’s escalating need for green financing. NABARD’s Climate Strategy 2030 is structured around four key pillars to address this demand:
(i) Accelerating Green Lending across sectors,
(ii) Playing a broader Market-Making Role,
(iii) Internal Green Transformation of NABARD, and
(iv) Strategic Resource Mobilization.

NABARD Re-accredited as Direct Access Entity of the Green Climate Fund (GCF)

NABARD proudly announces the signing of the amended and restated Accreditation Master Agreement (AMA) with the GCF on 01 November 2023, as the Direct Access Entity (DAE). This significant milestone marks the commencement of its second accreditation term with the GCF, which is world's largest climate fund. Shri. Shaji K V, Chairman, NABARD handed over a copy of the signed AMA to Smt. Rajasree Ray, Economic Advisor, MoEF&CC, on 22 November 2023 at Head Office, Mumbai in the presence of Shri. G S Rawat, DMD; Shri. Nirupam Mehrotra, Director, BIRD Lucknow; and Shri. Dinesh P, CGM, DCAS.

Establishment of Technical Support Unit (TSU) at NABARD under the Technical Assistance from Asian Development Bank (ADB)

As part of the Technical Assistance (TA) tie up with ADB for Climate Action Initiatives, a Technical Support Unit (TSU) at NABARD has been set up at NABARD through collaboration between NABARD, ADB, Bill & Melinda Gates Foundation and Intellecap Advisory Services. It was formally launched on 13th December 2023 by Shri Shaji K V, Chairman NABARD. Senior officials from ADB, Bill & Melinda Gates Foundation and Intellecap Advisory Services were present during the launch, along with CGM, DCAS; CGM, CPD and Team DCAS.

NABARD at COP 28

The annual UN Climate Change Conference (COP) is the only multilateral platform for climate change decision-making in the world, with nearly all nations participating. Dubai, United Arab Emirates, hosted it from November 30 to December 12, 2023.
NABARD is a key stakeholder in mitigating climate change, and its sustainability mandate was presented to the global audience by Chairman, Shri. Shaji K V. He also graced as a key panellist in a panel discussion on "The Building Blocks to Financing the Transition to Regenerative Landscapes" with MDBs and other agencies. Several dialogues/ meetings were held on sidelines of COP-28.

Implementation of Voluntary Carbon Market in Agriculture in India

NABARD is collaborating with the Ministry of Agriculture and Farmers Welfare (MoA&FW) for implementation of Voluntary Carbon Market (VCM) framework for Agriculture in India, with support from IIED (International Institute for Environment and Development), a policy and research organization, headquartered out of UK. MoUs were signed with the MoA&FW and IIED in this regard.
The framework would bring out the farming methods practised in the country and the potential of carbon sequestration and market-based mechanism. It also highlights the importance of farming communities including FPOs, SHGs, WUAs etc. in the VCM ecosystem and how best their services can be leveraged for carbon market.

NABARD partners with Government of Goa through first-of-its- kind blended finance facility

NABARD is collaborating with Government of Goa and World Bank for ‘Supporting the Blended Finance Facility being set up by the Government of Goa’. An MoU was signed in this regard with Govt. of Goa. The facility will leverage various sources of concessional finance through multilateral development banks (MDBs), bilateral institutions and philanthropic foundations for climate action. The first-of-its- kind blended finance facility will also serve as an exemplar for other states to follow to achieve their climate goals.

24th International Conference on Environment Management and Climate Change

Shri Shaji KV, Chairman, NABARD addressed a distinguished audience at the 24th International Conference on Environment Management and Climate Change organized by the Institute of Directors at Bengaluru on 22 June 2023. Chairman delivered a session on ‘A Roadmap to achieve Net Zero Goals’. Chairman highlighted the critical role of the rural sector in both contributing to and being affected by climate change. He emphasized the need for transformative action in the agricultural sector, which can be both environmentally friendly and profitable. The plenary session was chaired by Mr.Ovais Sarmad, former Deputy Executive Secretary, UNFCCC, Germany and co panelists included Consul Generals of France and Germany along with COO, Provident Housing Ltd.

5th Anniversary of Climate Change Centre

Shri Shaji KV, Chairman, NABARD delivered a keynote address on 31 July 2023 on commemoration of fifth anniversary of Climate Change Centre established at BIRD Lucknow. A roundtable was organised on “Taking Climate Finance Forward- Need for innovative Solutions” in association with GIZ, India. The roundtable which included high-level participation from MOEFCC, GoI, Govt. of Uttar Pradesh, RBI, Banks, grassroot implementing agencies, etc, deliberated on the roadmap for taking forward the climate agenda of the country.

UNDP India and NABARD MoU Signing

UNDP India and NABARD signed a Memorandum of Understanding (MOU) to co-create data-driven innovations in agriculture and food systems to support smallholder farmers. Under the MOU, the organisations will work to improve lives and livelihoods of smallholder farmers by sharing open-source data for product development, transfer of technology and supporting the framing of agrarian policies.
As a part of this partnership, NABARD has taken over the hosting of Data in Climate Resilient Agriculture (DiCRA), a digital public good, for digital innovations in agriculture and food systems.

Adoption of Green Development Pact

G20 leaders on 09 September 2023 adopted a green development pact to accelerate the steps needed to tackle the challenges of environment and climate change. The pact emphasises that current development and other policy choices and actions shall resolve environmentally sustainable practices and inclusive economic growth.