From Policy to Action: Why Recycled Plastic and Climate VC Must Drive India's Green Future
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India's climate finance needs are estimated at USD 10 trillion by 2070 to meet its net-zero commitment, according to a report by the Council on Energy, Environment and Water (CEEW). However, current public and private climate finance flows are just USD 44 billion annually (2022), far short of what's required.
While domestic efforts such as the Sustainable Finance Task Force and green bond issuances have begun to accelerate, climate venture capital still has some ground to cover. Funds like Green Frontier Capital, which invest in early-stage climate-tech startups, are attempting to plug this gap by supporting scalable innovations in bio-based packaging, agri-waste valorization, and low-emission mobility.
Karan Mehta, Venture Principal, Green Frontier Capital, said that we stand at an important moment in the global effort to combat plastic pollution. The Government of India's decision to permit the use of recycled plastic in food-grade applications marks a significant step forward.
"This policy highlights that circular economy solutions are not only possible but are now officially acknowledged. While this is a positive development, we must remember that changing policies alone cannot undo the effects of years of overconsumption. The challenges posed by single-use plastics continue to impact our ecosystems and our daily lives. However, we have the power to drive meaningful change through our individual actions," said Mehta.
India generates about 3.4 million tonnes of plastic waste annually, as per the Central Pollution Control Board (CPCB). Only about 60 per cent of this is collected, and much less is effectively recycled.
Santosh Kumar Singh, Managing Director-Climate and Energy, Intellecap said we are no longer caretakers of a fragile planet, we are its emergency response team.
"Climate change, biodiversity loss, and resource depletion are no longer distant warnings; they are our daily headlines. We urgently need to identify the climate initiatives that hold promise, amplify the ones making quiet progress, and bring the right partners to the table. What we need now is catalytic, risk-tolerant capital and bold innovations that challenge the status quo," said Singh.
Mehta added that every Indian can take a proactive step by committing to eliminate single-use plastics from their everyday routines. Simple actions, such as refusing plastic bags, choosing reusable bottles, or encouraging brands to adopt sustainable practices, can collectively make a difference.
CPCB and NITI Aayog have both identified urban local bodies and consumer behavior as critical bottlenecks. Programs like Swachh Bharat Mission 2.0 are attempting to address these with capacity-building grants for decentralized waste processing.
"This initiative goes beyond waste management; it is about ensuring a healthier future for our children and our planet. This is a reminder that there is no Planet B.. Let this year be one where we transform our promises into actions and embrace responsibility. Together, we can make a significant impact, let's act now, with determination and unity," said Mehta.
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