Tata Capital Limited (TCL), the flagship financial services
company of the Tata Group, has partnered with the Green Climate Fund (GCF) under its newly
approved BEACON INDIA Programme to support early-stage climate-tech start-ups across
India. The programme is being implemented in collaboration with the Small Industries
Development Bank of India (SIDBI) and TREC-STEP, an innovation and entrepreneurship
development organisation.
Under this partnership, Tata Capital will receive a first-of-its-kind revolving facility of USD
15.85 million from the GCF, along with an additional USD 3 million grant to make financing
more affordable for climate-focused start-ups. The revolving structure means that as startups repay their loans, Tata Capital will reinvest that money to fund new ventures ensuring the
support continues for years to come.
In addition, Tata Capital will contribute USD 47.6 million of its own funds, showing its strong
commitment towards building India’s climate innovation ecosystem. The initiative is expected
to reduce over 1.1 million tonnes of CO2 emissions and benefit nearly 2.9 million people
through climate adaptation and mitigation efforts
Rajiv Sabharwal, Managing Director & CEO, Tata Capital Limited, said, “Tata Capital has
always been committed to green initiative for a sustainable future. Our association with
Green Climate Fund to strengthen India’s climate innovation network is another step in that
direction. Through this programme, we aim to help emerging entrepreneurs scale their green
technologies and make a measurable difference to people and the planet.”
This partnership marks another milestone in Tata Capital’s journey as a leader in climate and
green financing. After becoming the first private sector company in India to collaborate with
GCF in 2019 for rooftop solar financing, Tata Capital now becomes the first Indian entity to
collaborate with the GCF on two distinct climate programmes. This achievement reaffirms
Tata Capital’s leadership and long-term commitment to driving sustainable growth and
supporting India’s transition to a low-carbon economy.
