In the case of India, the Council on Energy, Environment and Water 8 has already estimated that a total investment of $ 10.1 trillion would be needed to meet our net zero commitments by 2070. This underscores the urgency of efforts for transitioning to a low carbon economy. Ensuring access to adequate transtition finance and supporting technology would be critical in this process. 7.
Going forward, there are two key aspects which banks would need to focus on - first, relying on their time-tested expertise in financial intermediation by acting as an effective conduit for channelising finance to carbon efficient sectors and industries in alignment with national policies and goals; and second, improving the management of financial risks in their books which 5 Physical Risks are  economic costs and financial losses resulting from the increasing severity and frequency of: extreme climate change-related weather events (or extreme weather events) such as heatwaves, landslides, floods, wildfires and storms (i.e.