IEEFA India team adds energy finance analyst with World Bank background

Gaurav Upadhyay joins IEEFA as Energy Finance Analyst for South Asia's Sustainable Finance practice, bringing more than 12 years of experience in climate finance, just transition and renewable energy from roles at the World Bank and other international organisations. His work at IEEFA will focus on analysing sustainable finance flows and energy transition dynamics across the South Asian region.

Prior to IEEFA, Upadhyay worked as a Climate and Energy Consultant at the World Bank, where he led implementation of multisectoral lending and technical assistance projects. He has also worked with UNICEF, Hewlett-Packard and GVK-EMRI. In 2014, he received the Prime Minister Rural Development fellowship from the Ministry of Rural Development, enabling two years of close engagement with central and state governments on development programmes. His experience spans climate finance mobilisation, just transition planning and renewable energy project implementation across India and internationally.

Upadhyay's appointment strengthens IEEFA's South Asia team at a time when India's sustainable finance market is expanding rapidly. The government's National Green Hydrogen Mission, production-linked incentive schemes for solar manufacturing, and growing issuance of green and sustainability-linked bonds are all creating demand for rigorous independent financial analysis. His background in working across government, multilateral institutions and the private sector positions him to assess how capital is being allocated to energy transition in the region and where structural gaps in financing persist.

He has represented the World Bank and other organisations at international forums on energy transition, providing policy advocacy experience alongside his research background. Upadhyay holds dual master's degrees — in Development Practices and in Disaster Management — from the Tata Institute of Social Sciences in Mumbai, and a bachelor's degree in engineering from Rajasthan University. His academic training at TISS, a leading institution for social sciences in India, informs his emphasis on equity dimensions in energy transition analysis, including impacts on workers and communities dependent on fossil fuel industries.

Key figure — 12+ years — Gaurav Upadhyay's experience in climate finance, just transition and renewable energy before joining IEEFA