Turning Climate Ambition into Financial Infrastructure
Hemant Nandanpawar
Senior Director - Climate Finance & Stakeholder Management
Global Carbon Council
Turning Climate Ambition into Financial Infrastructure
Hemant Nandanpawar
Senior Director - Climate Finance & Stakeholder Management
Global Carbon Council
Hemant Nandanpawar-Most Inspiring Global Finance Leaders 2025
Climate finance today sits at the centre of the global response to climate change, but it was not always this visible. Before sustainability became a strategic priority and carbon markets entered the mainstream, climate finance operated quietly in the background, focused on one core task: mobilising capital to convert climate ambition into action.
Hemant Nandanpawar Senior Director – Climate Finance & Stakeholder Management at the Global Carbon Council, has worked at this intersection for nearly three decades. An engineer by training, he began his career in energy efficiency and renewable energy projects when climate change was barely part of the global business conversation. Early on, a clear pattern emerged. Technically and financially viable solutions stalled—not due to engineering gaps, but because capital structures failed to support execution. That challenge, he notes, continues to constrain climate-positive projects today.
This insight became a defining moment in Hemant’s professional journey. He recognised that in developing economies, access to affordable, well-structured finance is often the bottleneck to clean energy deployment. His focus expanded from project execution to climate and carbon financing, enabling the scale-up of clean technologies through innovative, market-based mechanisms.
A master’s degree holder in Energy Engineering & Finance, and a Postgraduate in Sustainable Business from the University of Cambridge, Hemant has over 28 years of experience across climate finance, carbon markets, decarbonisation, ESG, and low-carbon growth, Hemant has worked with governments, multilateral institutions, and private organisations across more than 25 countries. His contributions have earned national and international recognition, including the Global Gold Award for Climate Mitigation, the Global Green Leadership Award, the Government of Maharashtra Award for Excellence in Energy Management, and the DSK Award from the Institution of Engineers India. In a recent TradeFlock interview, he emphasised that carbon markets are not merely environmental tools but essential financial infrastructure for the net-zero economy.
Read the interview excerpts below.
What regional differences have you observed in the way climate finance is operationalised?
Working with international & multilateral organisations such as Ernst & Young, the Asian Development Bank, UNFCCC, and now the Global Carbon Council in different geographical regions has provided me with a comprehensive perspective on how climate finance and carbon markets work across the regions. Broadly, the way climate finance is operationalised is driven by a country’s economic status, climate risk exposure, and political outlook.
In developing regions, climate finance is closely linked to development priorities such as energy access, infrastructure & industrial development, resilience, and affordability, while supporting commitments under the Paris Agreement and the 1.5°C pathway. Europe and other developed economies rely on strong regulatory frameworks, compliance markets, and long-term decarbonisation strategies. The Middle East, meanwhile, is strategically using climate finance to diversify economies and position itself as a future hub for carbon markets and sustainable finance.
Many finance and policy leaders still see climate action as a cost. How does carbon finance help reframe it as a source of resilience and competitiveness?
When climate action is treated purely as compliance, it is seen as a cost. My work has focused on reframing carbon finance as a value-creation tool. By converting emissions reductions into economic assets, carbon finance lowers the cost of climate action and mobilises private capital at scale. Mechanisms such as voluntary markets and Article 6.2 under the Paris Agreement enable companies and countries to meet targets efficiently while attracting investment into clean technology and resilient infrastructure.
Having supported over 300 emission-reduction projects across 25+ countries, I have seen carbon revenues drive innovation, strengthen resilience, and turn climate action into long-term competitiveness and growth.
What lessons from your early technical work in clean energy continue to guide your leadership in global carbon markets?
My early work in energy efficiency, renewable energy, and biomass cogeneration taught me that successful projects are never built on technology alone. They require creative and innovative thinking, the right use of both existing and emerging technologies, financial viability, supportive local and international policies, active stakeholder engagement, and, critically, affordable project financing.
These lessons carried directly into my work in climate and carbon markets, where strong baselines, transparency, and disciplined execution determine credibility. They also instilled a long-term perspective that continues to shape my leadership approach. At the Global Carbon Council, these experiences come together in a clear focus on building high-integrity carbon markets that are credible to investors, accessible to project developers, and aligned with global climate goals. To me, carbon markets are not merely environmental tools; they are essential financial infrastructure for the net-zero economy.
As climate action moves to the economic mainstream, what traits will set leading climate finance leaders apart?
As climate action moves to the heart of global economic agendas, effective climate finance leaders will be defined by vision, system-level thinking, and the ability to execute at scale. They must link climate risk with economic growth and social equity, translating complex policies and market mechanisms into practical financial solutions.
Strong stakeholder management and cross-sector credibility will be critical, particularly in bridging public and private capital and building trust among governments, investors, and communities. As focus shifts from commitments to implementation, especially in emerging markets, decisiveness and innovation will outweigh rhetoric. Above all, integrity and long-term stewardship will set true leaders apart, ensuring capital delivers credible climate outcomes and lasting economic value.
