India Climate Collaborative Launches Earth Exponential: Scaling Home-Grown Climate Solutions to Tackle Critical Funding Gaps

New Platform Connects Funders and Non-Profits to Accelerate Climate Action and Boost Climate Funding Efficiency

India Climate Collaborative (ICC) has taken a bold step to accelerate climate action in India by addressing critical funding gaps for home-grown climate solutions. To support India’s ambitious climate goals, they have launched Earth Exponential, a platform that brings together funders and non-profit organizations to scale up high-impact climate change programs and improve climate funding efficiency.

Over the past seven years (2015-2021), only a small fraction of corporate grant funding (CSR) amounting to INR 6,183.04 crore out of a total of INR 67,193.41 crore has been allocated to environment-related issues. Climate funding, which focuses on greenhouse gas emissions and climate change impacts, is not clearly tracked. This calls for more funding to be directed towards climate change initiatives, especially in vulnerable regions like Northeast India, which received only 1.78% (INR 110.6 crore) of the CSR funds allocated to environment-related issues.

Despite the promising trend of over 80% of mid-size corporates in India expressing interest in funding climate projects, the actual allocation towards the environment sector remains at a meager 9.2%. This highlights the urgent need to bridge the gap between the enthusiasm for funding climate action and the actual financial support for projects with a climate focus in India.

The Earth Exponential platform, supported by the JSW Foundation, aims to reshape climate funding in India by showcasing and evaluating home-grown climate projects and connecting them with potential funders. The platform is committed to equity and addressing the climate crisis for India’s most vulnerable populations, empowering CSR funders to drive impactful climate initiatives and explore new possibilities for funding climate action.

Shloka Nath, CEO of the India Climate Collaborative, emphasized the potential of India’s home-grown climate solutions to address climate change effectively. The platform’s goal is to build a climate ecosystem and enhance the efficiency of climate funding by connecting funders with non-profits working on climate and development challenges.

Sangita Jindal, Chairperson of JSW Foundation, stressed the importance of collaboration in innovation and development to achieve the target of net zero by 2070. Earth Exponential aims to address critical gaps by bringing funders and non-profit organizations together and promoting innovative, homegrown solutions.

The Earth Exponential platform is open to all funders but currently focuses on addressing challenges faced by CSR funders. The platform ensures measurable outcomes for all featured projects, compliance with requirements, and broad geographic coverage. It builds knowledge around five solution areas: Farms, Cities, Nature, Resilience, and Jobs, which are crucial for reducing emissions and building resilience to climate stresses.

Through Earth Exponential, funders can explore the climate solutions landscape and engage with credible organizations implementing impactful projects across the country. This initiative aims to drive climate action forward and make a significant impact in India’s fight against climate change.