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Source– This post on IPEF’s Clean Economy Investor Forum is based on the article “Indo-Pacific Economic Framework for Prosperity (IPEF) to organise Clean Economy Investor Forum in Singapore” published in “PIB” on 10th April 2024.
Why in the News?
Recently, the IPEF organized a Clean Economy Investor Forum in Singapore.
About IPEF Clean Economy Investor Forum
1. The IPEF Clean Economy Investor Forum is one of the initiatives under the IPEF. The Forum aims to mobilize investments into sustainable infrastructure, climate technology and renewable energy projects.
2. It brings together the region’s top investors, philanthropies, financial institutions, innovative companies, start-ups and entrepreneurs.
3. Managed by: Invest India (India’s National Investment Promotion Agency).
What are opportunities for the Indian industry?
The Forum will have opportunity for the Indian industry in the two following track:
a) Climate Tech Track: This track is open for top climate tech companies and startups from member countries, including India, to present their innovations to global investors. It focuses on recognizing leading enterprises in climate technology.
b) Infrastructure Track: This track highlights ready-to-invest sustainable projects in energy (solar, wind, hydrogen), transport (EVs, charging stations), and waste management, to be showcased at the 2024 Forum in India.
About Indo-Pacific Economic Framework for Prosperity (IPEF)
1. The Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by U.S.A President Joe Biden in 2022.
2. Objective: It provides a platform for countries in the region to collaborate on advancing resilient, sustainable, and inclusive economic growth, and aims to contribute to cooperation, stability and prosperity in the region.
3. Members: It has 14 partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, U.S.A and Vietnam.
4. Nodal agency: Department of Commerce for the IPEF engagements
5. The IPEF comprises four pillars of cooperation namely: Trade, Supply Chain, Clean Economy and Fair Economy.
Read more: IPEF agreement
UPSC Syllabus: International Relations
