Bhopal News: WRI & EPCO Highlight Climate Finance Needs & Pathways For Climate-Resilient Development In MP

Bhopal (Madhya Pradesh): State agriculture-dependent economy is facing rising climate stress, driven by erratic rainfall, frequent droughts and changing weather patterns.

The updated action plan of the state on Climate Change (SAPCC) highlights the growing risks, placing Singrauli, Jhabua, Barwani and five other districts in the "most vulnerable" category, while 17 districts fall under "high vulnerability."

To address these challenges, the SAPCC calls for mobilising climate finance through public, private and blended sources.

To support the creation of a State Climate Finance Strategy, WRI India, in partnership with the Environmental Planning & Coordination Organization (EPCO), the Department of Environment, and the Climate Policy Initiative (CPI), organised a convening titled “Mobilizing Climate Finance for Resilient Growth in Madhya Pradesh” in Bhopal on Wednesday. Officials, researchers, financial institutions and climate experts discussed the state’s climate finance needs and pathways for climate-resilient development.

In his keynote address, Additional Chief Secretary Ashok Barnwal said climate finance is now a critical enabler for states like Madhya Pradesh, which aims to achieve a GSDP of ₹250 lakh crore by 2047.

He stressed that future growth must avoid a high-emission pathway and highlighted the need to develop bankable, policy-backed climate projects across sectors. He also emphasised building capacities within government, the private sector and the public, noting that Mission LiFE can help drive behavioural change.

EPCO Executive Director Deepak Arya said the state faces a major financing gap, with an estimated requirement of ₹97,000 crore for climate adaptation and mitigation. Public budgets alone cannot meet this need, he said, making it essential to tap private investment, blended finance, carbon markets and multilateral climate funds.

WRI India’s Climate Finance Program Lead, Neha Misra, said mobilising diverse climate finance sources is key to achieving the Samriddh Madhya Pradesh@2047 vision. EPCO’s Coordinator, Lokendra Thakkar, highlighted ongoing efforts to secure funds under national missions and global programs to support low-carbon development.

Experts in technical sessions discussed financing pathways for sustainable agriculture, forestry, resilient infrastructure and urban systems. The event ended with a call to develop actionable, climate-resilient finance strategies for Madhya Pradesh.