Maharashtra unveils climate finance strategy at Mumbai Climate Week to power green growth

Mumbai’s climate summit opened with a major policy push on Feb. 17, 2026, as Maharashtra unveiled a Climate Finance Access and Mobilisation Strategy designed to steer large-scale investment toward a low-carbon, climate-resilient economy. The initiative links state planning with financing tools and digital transparency platforms, and aims to marshal both public and private capital as the state pursues rapid economic expansion. The event in bombay drew officials, economists and climate experts to outline next steps.

CFAMS: a roadmap to translate priorities into investable projects

The new Climate Finance Access and Mobilisation Strategy (CFAMS) was presented at the opening of Mumbai Climate Week and was developed by the State Climate Action Cell with technical support from national and international partners. The framework sets out a structured approach to identify, access, mobilise and allocate funds for climate actions across sectors, aligning with the revised State Action Plan on Climate Change (SAPCC 2. 0) and the long-term vision Viksit Maharashtra 2047.

State planners emphasised that public budgets will not be enough to meet the scale of ambition. Maharashtra estimates nearly Rs 3 lakh crore will be required between 2024 and 2030 to implement actions under SAPCC 2. 0. Praveen Pardeshi, CEO of the Maharashtra Institution for Transformation and Chief Economic Adviser to the Chief Minister, said climate action must be considered an economic priority as the state pushes to become a USD 1 trillion economy by 2027-28. He stressed that diversified financing sources and closer coordination between planning and budgeting will be essential to achieve climate-resilient growth.

Abhijit Ghorpade, Director of the State Climate Action Cell, framed CFAMS as a bridge for finance gaps: the strategy focuses on standardising project preparation, improving bankability, and packaging policy priorities into investable opportunities so that finance can flow more predictably.

Dashboard, facilitation desk and blended finance to lure capital

Alongside CFAMS, state officials announced plans for a Maharashtra Climate Finance Dashboard to track climate-related expenditure across departments. The proposed online tool is intended to improve transparency, support budgeting choices and provide investors clear data on where climate investments are being made. Officials expect the visibility to help attract both domestic and international capital.

The strategy also proposes establishing a Climate Finance Facilitation Desk to streamline access to funding, reduce transaction costs and crowd in private capital through blended finance and risk-sharing instruments. Madhav Pai, CEO of a supporting research partner, highlighted blended finance and targeted guarantees as mechanisms to reduce perceived risk and mobilise commercial finance for projects that deliver measurable climate and development outcomes.

CFAMS further emphasises capacity building within government departments to prepare bankable projects, standardised financing templates, and mechanisms to align fiscal planning with climate priorities so that investment pipelines are clear and actionable.

Mumbai Climate Week context: spotlight on space, resilience and youth innovation

The three-day summit, held Feb. 17–19, 2026, centres on food systems, energy transition and urban resilience. A high-profile line-up across the programme includes sessions that connect science, sport, art and space to climate action. A space-focused session on Day 2 — listed for 9: 30 a. m. ET — will feature veteran and recent Indian spacefaring figures discussing planetary stewardship and engagement with youth and international delegations.

Organisers framed Mumbai Climate Week as a citizen-led platform elevating sub-national action and innovation. Day 3 will showcase winners of an innovation challenge and bring investor sessions aimed at scaling early-stage climate solutions. State leaders said the CFAMS launch at the summit signals a shift: climate policy is now explicitly tied to Maharashtra’s economic strategy, and the state is moving to make its climate investments measurable, bankable and visible to both public and private financiers.

As Maharashtra seeks to align its climate goals with development targets, CFAMS and the promised dashboard are intended to create the governance and financial architecture that can turn policy ambition into funded, on-the-ground projects—an essential step as cities and states across the region confront accelerating climate risks.