The U.K. and India are backing an effort led by Bloomberg LP to steer billions of dollars toward renewable energy projects in the south Asian country to help it transition away from fossil fuels.
The governments, along with the Climate Finance Leadership Initiative, announced the new partnership known as CFLI India in a statement on Thursday. Its aim is to work with the public and private sectors to spur the flow of private capital into India as the country embarks on a record build-out of renewable power.
