Climate Finance: Espelia Partners with SBI for Climate Change Adaptation in India

Espelia supports the State Bank of India (SBI), the largest public bank in India, in its journey towards climate change adaptation investments.

As part of the credit line granted by the French Development Agency (AFD) aimed at financing investment projects focused on climate change adaptation, Espelia has been selected to design operational tools for SBI teams. These tools will enable the assessment of the eligibility of projects submitted for this funding based on several technical criteria related to the sector of activity, the pursued objectives, the proposed adaptation measures, and the climate vulnerability of the project locations.

Founded over 200 years ago and 57% owned by the Indian government, SBI is the oldest public bank in the country. With a balance sheet of €660 billion in 2023, it holds a central place in the Indian financial landscape, accounting for a quarter of the country's banking market. Its services cover a wide range of financial sectors, including retail banking, corporate financing, and insurance services through its numerous subsidiaries.

Historically, climate finance has primarily focused on mitigation projects, which often present a more evident economic model than adaptation, such as renewable energies. Thus, the development of specific methodologies to identify, finance, and implement climate change adaptation projects within the Indian context represents a true innovation. This project has the potential to transform mindsets and practices within a key financial institution for the country's development.

Espelia is very pleased to support this process and to begin a promising collaboration with new clients and partners in India.