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Bombay Faces Climate Risk but Maharashtra Unleashes Green Growth Vision
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Bold 1-Step Shift: Bombay Faces Climate Risk but Maharashtra Unleashes Green Growth Vision
Positive sentiment: Green growth, investment opportunity, climate leadership
Negative sentiment: Funding gap, rising climate risk, financial pressure
Bombay Hosts Maharashtra’s Climate Finance Push at Mumbai Climate Week 2026
At , Maharashtra has taken a decisive step toward climate-led economic growth by unveiling its Climate Finance Access and Mobilisation Strategy (CFAMS) during 2026.
The announcement positions Mumbai at the centre of India’s climate finance conversation, even as the state faces mounting environmental risks and a massive funding challenge to meet its sustainability goals.
What Is CFAMS and Why It Matters for Bombay
The newly launched CFAMS framework aims to unlock large-scale climate investment and support Maharashtra’s transition to a low-carbon, climate-resilient economy—while still chasing its ambitious target of becoming a $1 trillion economy by 2027–28.
Developed by the State Climate Action Cell with support from and the (MITRA), the strategy provides a clear roadmap to:
- Identify climate finance needs
- Mobilise domestic and global capital
- Allocate funds efficiently across sectors
SAPCC 2.0 and Viksit Vision: Long-Term Climate Planning
The strategy aligns with Maharashtra’s updated State Action Plan on Climate Change (SAPCC 2.0) and its long-term development blueprint, Viksit Maharashtra 2047, which complements India’s national Viksit Bharat 2047 mission.
State estimates suggest that nearly ₹3 lakh crore will be required between 2024 and 2030 to fully implement climate actions—highlighting a major financial gap that public funding alone cannot fill.
Expert Voices: Climate Action Is an Economic Necessity
Praveen Pardeshi, CEO of MITRA and Chief Economic Adviser to the Chief Minister, emphasized that climate action must move beyond policy intent.
“As Maharashtra moves toward a USD 1 trillion economy, climate action must be treated as an economic priority—not just an environmental one.”
He underlined the need for diverse funding sources, stronger coordination between planning and budgeting, and deeper private-sector participation.
Mumbai to Get a Climate Finance Dashboard
To improve transparency and investor confidence, the state also announced plans for a Maharashtra Climate Finance Dashboard.
This digital platform will:
- Track climate-related spending across departments
- Support data-driven policymaking
- Improve visibility for domestic and international investors
Officials believe this tool could significantly improve capital inflows into Bombay and other urban centres facing climate stress.
Private Capital and Blended Finance in Focus
Abhijit Ghorpade, Director of the State Climate Action Cell, said timely access to finance will determine the success of Maharashtra’s climate ambitions.
Meanwhile, Madhav Pai, CEO of WRI India, revealed that CFAMS proposes setting up a Climate Finance Facilitation Desk to:
- Simplify financing processes
- Use blended finance models
- Reduce risk for private investors
With climate risks intensifying, Bombay’s role as a financial hub could prove crucial in scaling sustainable investments.
The Big Picture: Opportunity Amid Climate Pressure
While rising climate threats pose serious risks to Bombay’s economy and infrastructure, Maharashtra’s climate finance strategy signals a strong political and economic commitment to sustainability.
If executed effectively, CFAMS could transform Mumbai from a climate-vulnerable megacity into a model for green growth and climate-resilient development.