Director of Climate Policy Initiative’s India program
Gireesh Shrimali Director of Climate Policy Initiative’s India office. He is a Professor of Energy Economics at the Monterey Institute of International Studies, a Graduate School of Middlebury College and a Faculty Fellow at the Steyer-Taylor Center for Energy Policy and Finance at Stanford University. Previously, he taught at the Indian School of Business (ISB), where he helped found the CPI-ISB Energy and Environment Program in collaboration with CPI.
His current research focus is on renewable energy finance and policy in developing countries – in particular, on analytical frameworks for identification of effective policies as well as on instruments for provision of low-cost, long-term capital. His previous work has included topics such as analysis of India’s renewable policies; the impact of federal and state policies on the development and deployment of renewable energy in the U.S.; and business models for off-grid energy in developing countries.
He holds a PhD from Stanford University, an MS from the University of Minnesota, Minneapolis, and a BTech from the Indian Institute of Technology, New Delhi. He has over nine years of industry experience.
Public-private collaboration will be essential to raising the finance needed for India's cleaner growth. While the right domestic policies will be key to facilitating finance, greatly scaling up investment from the private sector will be the only way to mobilise the full amount of capital needed to meet India's renewable energy targets. In order to scale up private investment, India needs financial instruments for renewable energy and other green infrastructure that are a better match with investors' needs.
Earlier this month, India announced its pledge for action on climate change beyond 2020, ahead of the United Nations summit on climate change negotiations this December in Paris. Laudable though it is, India's pledge, called an INDC (Intended Nationally Determined Contribution), is also very ambitious and achieving it is going to require mobilising a lot more financing, at more attractive terms. There are several avenues the government could explore for a more cost-effective and realistic pathway to the INDC.