Australia Awards South and West Asia

Sagar Asapur, an Australia Awards alumnus from India, is an expert in climate risk and sustainable finance with more than 12 years of experience. He completed the Australia Awards Regional Short Course on Integrating Climate Change Adaptation and Disaster Risk Reduction, delivered by Griffith University, in 2023.

He is currently based in Delhi, and is leading the sustainable finance and climate risk team at Climate Risk Horizons, a research and advisory think-tank from Bengaluru, India. The organisation helps prepare financial institutions for climate-related financial risks. His work specialises in conducting comprehensive research and assessments on climate-related risk preparedness, with a particular focus on Indian financial, regulatory and policy scenarios, as well as providing technical insights and quality assurance to financial institutions. He leads initiatives in the mobilisation of climate finance and the creation of innovative financial solutions, such as blended finance.

“My work contributes to India’s development by driving climate policy, climate finance and energy infrastructure investments, including initiatives in mobilising climate finance and enhancing infrastructure resilience,” says Sagar. “My motivation stems from a deep commitment to mitigating climate change impacts and fostering sustainable financial practices.”

Sustainable finance involves integrating environmental, social and governance (ESG) criteria into financial decision-making processes. These criteria help guide investments towards projects and companies that support long-term sustainability goals such as mitigating climate risks, reducing carbon footprints and fostering resilient economic growth. Sustainable finance is essential for governments, businesses and financial institutions because it aligns economic activities with global sustainability objectives, ultimately promoting a more equitable and sustainable world. This approach benefits society at large by encouraging responsible investment practices that support environmental and social wellbeing.

Sagar (first from right, back row) and other participants in the Short Course at Griffith University’s Nathan Campus in Queensland.

Sagar’s leadership journey is marked by significant contributions, including leading climate risk assessments for Indian financial institutions and advising on ESG regulations. He has earned recognition and has actively participated in international dialogues and conferences, sharing insights into climate resilience and sustainable finance, thereby influencing policy and practice at both national and global levels.

He has also participated as a keynote speaker at various prestigious events, sharing his knowledge on climate-resilient infrastructure investment and climate finance. These events include the Roundtable on Climate Finance, organised by the Reserve Bank Innovation Hub and the Indian Institute of Management in Lucknow in April 2024, and the Regional Dialogue on ‘Accelerating climate resilience in the hydropower sector of the Hindu Kush Himalaya region’, organised by the International Centre for Integrated Mountain Development in Kathmandu, in July 2024.

Sagar says, “I was motivated to apply for the Australia Awards Short Course on Integrating Climate Change Adaptation and Disaster Risk Reduction to enhance my understanding and skills in these critical areas. The course offered a unique opportunity to learn from global experts, apply best practices in my work in India and expand my networks in this domain, aligning with my passion for addressing climate risks and promoting sustainable development.”

Sagar presenting his Return-to-Work Plan during the Short Course.

This Short Course has significantly contributed to his career development by providing advanced knowledge and international perspectives on climate adaptation and disaster risk reduction. Sagar also continues to maintain professional linkages with Australian experts and institutions, collaborating on research articles and sharing best practices in sustainable finance and climate resilience.

The primary beneficiaries of his work are financial institutions, government bodies and communities vulnerable to climate risks. His efforts have led to improved climate risk management and resilience in financial systems, thereby contributing to more sustainable and secure livelihoods. During the Short Course, he prepared a Return-to-Work Plan that focused on enhancing climate risk preparedness and sustainable finance practices, such as climate-risk proofing of infrastructure investments. He has already completed this project as part of a report at his organisation (in the process of publication).

One of the significant challenges he faced while completing his Return-to-Work Plan back in India was identifying interviewees, since there are relatively few experts working on the topic he chose, especially in the context of South Asia. However, he overcame this challenge by fostering collaborations with guest speakers during the course and leveraging opportunities after returning home by attending international conferences, such as the International Conference on Disaster Resilient Infrastructure, organised by the Coalition for Disaster Resilient Infrastructure, and networking events organised by the British Council in India.

Sagar attending a workshop on how to apply GEDSI and the United Nations Sustainable Development Goals tools on Return-to-Work Plans during the Short Course.

He says, “These networking events provided me with ample opportunities to engage with diverse stakeholders, understand their work in the context of my Return-to-Work Plan topic and schedule semi-structured interviews with identified experts in the field. I further took advantage of these opportunities to create awareness about the importance of sustainable finance and climate risk management through publications with my organisation and direct engagement with the diverse set of stakeholders I interacted with.”

His current research efforts include publications on the preparedness of Indian banks and asset management companies for climate-related financial risks, assessing the vulnerability of hydropower plants in India, and evaluating the capacity of the insurance sector to cover climate-induced disaster risks. His expertise contributes to enhancing infrastructure resilience and improving financial products designed to mitigate climate risks.

Additionally, he has maintained contact with the professors at Griffith University who coordinated the Short Course. He is collaborating with them on a research article focused on integrating gender equality, disability and social inclusion (GEDSI) and intersectionality into climate change adaptation and disaster risk reduction projects, programs and policies. This ongoing collaboration reflects his commitment to incorporating inclusive approaches into climate resilience strategies, further strengthening India’s capacity to address the multifaceted challenges posed by climate change through risk-informed and equitable financial strategies.

Sagar says, “The importance of perseverance, continuous learning and collaboration in the field of sustainable finance and climate change cannot be overstated. The value of the Australia Awards Short Course has been immense in providing critical knowledge and networks to address global challenges effectively.”