Perception of Climate Finance: An Empirical Approach

Abstract

Climate finance is an alternative financing source in which private and public at domestic and global levels invest their funds to support mitigation of and adapt to present and upcoming climate change. It is an enormous challenge since it is incredibly susceptible to climate impact. The main challenge lies in identifying risks of climate change, appropriate response measures, and prioritizing them to control climate change. The paper aims to determine the perception of climate finance among the public while assessing India's current situation concerning climate change. A well-structured questionnaire was prepared, and data were collected from 253 respondents in Chennai city from December 2020 to February 2021 using a convenience sampling method. A chi-square tool was used to examine the association between the demographic profiles of the respondents and the respondents' perception of climate change-related activities. Type of family, age, and number of family members are significantly associated with most statements connected to the perception of climate finance. The majority of the respondents had insufficient knowledge about climate change policies. Forty-two per cent of the respondents believed that the investment made in climate finance is used effectively for sustainable development. It explores the present scenario of climate finance in India during the Covid 19 pandemic period. The study results will be helpful to the social investment companies, and the regulators frame suitable strategic policies.