Date of Award

Spring 5-18-2026

Document Type

Thesis

Degree Name

Master of Public Policy (MPP)

First Advisor

Mayara Felix

Subject Area(s)

Economics, Environmental science, Management, Public policy

Abstract

Reports show that India is highly vulnerable to climate change. Mitigation efforts alone cannot address these risks, and adaptation remains essential. Yet while much of the existing literature documents the adaptation finance gap, it offers less practical guidance on where private capital can realistically be used and what institutional arrangements are needed to make it work. This paper tries to address that gap in the Indian context.

This paper examines three adaptation finance use cases through which private capital could support climate adaptation and resilience in India: parametric disaster risk transfer, pooled municipal finance, and water fund. For each issue, I examine how a particular use case was implemented by other countries, conduct interviews with experts on the Indian context, and offer guidance on how the adaptation finance setup used in other countries could be adapted to India’s institutional setting.

The paper argues that private capital can support adaptation in India, but only selectively and under carefully designed institutional arrangements. Across the three use cases, private participation becomes feasible when public institutions reduce risk, increase accountability, and support credible repayment.

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