HCL Group Launches Climate Fund To Support Low-Carbon Innovations

(MENAFN- KNN India) New Delhi, May 1 (KNN) In a significant push toward climate action, Indian tech giant HCL Group, in collaboration with the India Climate Collaborative (ICC), has launched the HCL ClimaForce Fund-a Rs 25 crore initiative aimed at supporting market-ready solutions for climate mitigation and adaptation.

The fund seeks to address critical sectors like cooling, buildings, and freight mobility, which are vital to India's development and environmental goals.

With rising demand for cooling-expected to increase eightfold by 2037-and an expanding building sector, the need for sustainable solutions has never been greater. Freight emissions, too, are projected to surge by over 450 per cent by 2050.

"This is our first dedicated climate initiative," said Roshni Nadar Malhotra, Chairperson, HCL Group. "We are investing in innovators creating real solutions for a low-carbon future, aiming to bridge innovation and adoption."

Unlike traditional grants, ClimaForce will operate in a commercial setting, backing over 20 solutions initially. Selected innovations will be piloted with industry partners and supported by technical experts.

The pilots will serve as proof-of-concept to attract wider investor and industry interest, paving the way for large-scale adoption.

The initiative aligns with India's commitments under the Paris Agreement and the Montreal Protocol, especially in phasing down harmful refrigerants.

Shloka Nath, CEO of ICC, emphasised the urgency:“We're at a point where innovation must meet speed. This fund is about turning climate ambition into real-world impact.”

With hopes to inspire broader corporate participation, the ClimaForce Fund may become a model for how industry and philanthropy can work together to combat climate change.

(KNN Bureau)

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