WSDS 2025 Day 2 Puts Climate Finance, Ecosystem Renewal, and Energy Transition in Focus
New Delhi, March 06, 2025: The second day of the World Sustainable Development Summit (WSDS) 2025 concluded with renewed momentum on climate financing, ecosystem restoration, and sustainable energy transitions. The sessions underscored the urgency of collaborative action in the lead-up to COP30 and beyond, with a strong emphasis on bridging the financing gap for climate action, scaling nature-based solutions, and ensuring an inclusive, just transition.
Global leaders and experts underscore urgency of partnerships and innovation to bridge financing gaps and advance sustainability goals
Delivering the ‘Global Leadership Message’, H. E. Mr Michael R. Bloomberg, UN Secretary-General’s Special Envoy on Climate Ambition and Solutions; Founder, Bloomberg L P and Bloomberg Philanthropies stressed the urgency of collective action. In his recorded remarks, he stated, “As we approach the 10-year anniversary of the Paris Climate Agreement, action is needed more urgently than ever. India has shown how partnerships across governments, businesses, and civil society can drive progress. This Summit is an opportunity to strengthen existing partnerships, create new ones, and share proven solutions.”
The day began with an Invocation session titled, ‘Spirituality and Sustainable Development’, where Brahma Kumari Sister Shivani emphasized the interconnection between inner transformation and environmental action. “The well-being of the planet begins with the well-being of the self. A stressed and depressed mind cannot nurture a healthy world. An expanse of land in Mount Abu, once declared barren, transformed into a kind of paradise of Rajasthan through meditation, care, and conscious agriculture—proving that nature responds to our vibrations. Meditative agriculture, or yogic kheti, combined with organic farming, creates food infused with positive energy. In a world filled with hate and intolerance, self-care is the first step towards healing the planet. When we cultivate inner peace, simplicity becomes our lifestyle, contentment our natural state, and nature our source of emotional well-being,” said Sister Shivani.
The Leadership Panel: ‘Healing Nature, Ocean and Ecosystems,’ chaired by Dr Vibha Dhawan, Director General, TERI, explored comprehensive approaches to ecosystem restoration. Speakers underscored the need for international collaboration and community-led initiatives to halt degradation and restore biodiversity. Dr Pema Gyamtsho, Director General, International Centre for Integrated Mountain Development, emphasized the critical role of mountain ecosystems, noting, “We need to ensure that oceans, nature, mountains are not seen as separate entities. That’s because, where does the melting snow from the mountains land up? They eventually land up in the ocean. So, in order to look at the ocean health, we also need to look up at the mountains. The threats to the Hindu-Kush Himalayas are transboundary challenges and unless we have regional cooperation, we won’t be able to address them.”
Regarding living in the times of Artificial Intelligence, Mr Ranjit Barthakur, Founder Forester, Balipara Foundation, said, “I believe that the world is actually brighter with AI and other measurement tools at our disposal. Today, it is actually possible to have more productivity in terms of resource conservation.” Prof. Petteri Taalas, Director General, Finnish Meteorological Institute, highlighted that climate science must be the foundation of global restoration strategies to safeguard our natural resources because “India seems to be on the road to become a major victim of climate change especially due to the challenges posed by population growth and the economic growth that the country is currently undergoing,” he added.
Emphasizing Norway’s commitment to ocean conservation, H. E. Ms May-Elin Stener, Ambassador of Norway to India, said, “Norway has had a long journey towards becoming a major ocean economy that it is today and during that journey, we have made mistakes. We have been able to achieve sustainable coastal management. Partnerships play a big role in climate action; in fact, we even have a task force in blue economy in India. Established in 2019 and ongoing, Norway is working on several tracks in the country. We are working in Puducherry and Andhra Pradesh, and the key areas of intervention are sustainable coastal management and minimizing marine pollution. We are also looking for ways to expand this programme to other states of India.”
A high-level plenary titled, ‘Bridging the Financing Gap for Climate Action and Sustainable Development’ tackled the question on USD 4 trillion annual shortfall, as identified in the UN’s 2024 Financing for Sustainable Development Report. The discussion highlighted the imperative for financial systemic reforms to mobilize capital toward sustainability-driven investments. Mr Manish Chourasia, COO, Tata Capital Limited stated, “This figure in isolation looks big, but if we compare this with the global savings, the amount is not that big as bulk of these savings are part of the developed world. That’s why, fund flow from the developed countries to the developing countries is important. Whenever private sector participates in funds, it makes good returns. So the question is—how can we have enabling policies and regulations so that the private sector actually starts investing in the climate sector?”
H. E. Mr Yutaka Matsuzawa, Vice-Minister for Global Environmental Affairs, Japan, stated, “To fill the climate financial gap, an approach that employs both domestic policy and international cooperation is relevant.” Dr Sujata Gupta, Director, Asian Development Bank remarked, “For developing countries, climate change is not on their agenda. Therefore, for public finance and fiscal policies to be aligned towards regional or global public goods, it is necessary that costs are covered by the new, additional, and concessional resources.” The final session of the day, ‘Powering the Future through Sustainable Energy Transitions’ delved into strategies for accelerating clean energy adoption while ensuring universal energy access. Dr Ajay Mathur, Director General, International Solar Alliance, underscored the importance of equitable access to energy, stating, “In the end, energy transition will happen. The key issue is, how do we ensure that the last person can transition to a zero-carbon future? To achieve this, we need to create the guarantees necessary to attract private-sector funding into areas where investment is not currently occurring.” Moreover, while highlighting the need for international financing and coordinated global action, Prof. Jeffrey D. Sachs, Director, Center for Sustainable Development, Columbia University, added, “There is no geological shortage of critical minerals. The challenge lies in mining projects and international trade. The biggest problem is that the major economies are not engaging with each other systematically to plan an energy transformation over the next quarter-century. There are no geological or economic barriers to the energy transformation that I’m aware of. It is absolutely achievable, but there must be clear rules in place to make that happen.”
On the importance of green mobility, Ms Shweta Pandey, Vice President, Legal and Compliance, Mercedes-Benz Research and Development India Pvt. Ltd, explained, “We are an R&D entity in India. For Mercedes-Benz, India is a key location, not only because of its lucrative talent pool but also for the innovation and technological advancements that can be developed here. As an R&D entity, when we address the issue of mobility, we focus on access, particularly for the bottom of the pyramid, thereby bridging the gap between urban and rural India, and addressing basic mobility needs, such as pedestrian access, along with the technology supporting it.” At the end of this session, the TERI Energy & Environment Data Diary and Yearbook (TEDDY) was unveiled. TEDDY (2023/24) gives an account of India’s commercial energy balances, extensively covering on energy flows within different sectors of the economy.
The day’s events concluded with a thought-provoking fireside chat, followed by a vibrant cultural evening that celebrated the fusion of climate action and artistic expression.
The discussions reinforced the Summit’s role as a crucial platform for advancing climate action through collaborative solutions, with particular emphasis on closing the financing gap, restoring nature-based solutions, and accelerating energy transitions. With WSDS 2025 heading into its final day, discussions will continue shaping global climate ambition, strengthening policy frameworks, and driving actionable strategies towards a more sustainable and equitable future.