India needs $10 trillion investment to hit net zero target
POWER & RENEWABLE ENERGY

India needs $10 trillion investment to hit net zero target

India’s target of achieving net zero emissions by 2070, announced by Prime Minister Narendra Modi at the UN Climate Summit COP26 in Glasgow in November 2021, might be somewhat over-ambitious, according to experts, and would require a huge investment.

India is the third largest emitter of greenhouse gases after China and the US. China has said that it plans to achieve net carbon neutrality by 2060, and the US along with the European Union (EU) aims to do so by 2050.

To achieve its target, India will have to move away from its heavy dependency on coal and a proper roadmap is required to achieve this, before moving towards the larger target.

According to a study, an investment of $10 trillion, starting from this year itself, would be needed to achieve the net zero target. And if the deadline is advanced to 2050, then the amount may go up to $13.5 trillion.

The economic benefits of India stepping up its transition to climate neutrality by 2070 are immense - boost of up to 4.7% per cent to the annual GDP by 2036 and creating some 15 million new jobs by 2047, according to a report by the High-Level Policy Commission on Getting Asia to Net Zero. The benefits are even greater if India reaches net zero carbon emissions by 2050.

The report, titled ‘Getting India to Net Zero’, released in August this year, said that achieving the zero-emission target by 2070 would be worth $371 billion in financial terms.

See also:
Rs 100 bn infra works for Andamans in pipeline: minister
Ahmedabad’s Sakri Lake to be developed in Rs 190 mn project


India’s target of achieving net zero emissions by 2070, announced by Prime Minister Narendra Modi at the UN Climate Summit COP26 in Glasgow in November 2021, might be somewhat over-ambitious, according to experts, and would require a huge investment. India is the third largest emitter of greenhouse gases after China and the US. China has said that it plans to achieve net carbon neutrality by 2060, and the US along with the European Union (EU) aims to do so by 2050. To achieve its target, India will have to move away from its heavy dependency on coal and a proper roadmap is required to achieve this, before moving towards the larger target. According to a study, an investment of $10 trillion, starting from this year itself, would be needed to achieve the net zero target. And if the deadline is advanced to 2050, then the amount may go up to $13.5 trillion. The economic benefits of India stepping up its transition to climate neutrality by 2070 are immense - boost of up to 4.7% per cent to the annual GDP by 2036 and creating some 15 million new jobs by 2047, according to a report by the High-Level Policy Commission on Getting Asia to Net Zero. The benefits are even greater if India reaches net zero carbon emissions by 2050. The report, titled ‘Getting India to Net Zero’, released in August this year, said that achieving the zero-emission target by 2070 would be worth $371 billion in financial terms. See also: Rs 100 bn infra works for Andamans in pipeline: ministerAhmedabad’s Sakri Lake to be developed in Rs 190 mn project

Next Story
Infrastructure Urban

Consistent reforms will foster growth and reduce investor risk

Incorporated in 1986 as a wholly owned subsidiary of State Bank of India, SBI Capital Markets Ltd (SBICAPS) is a SEBI-registered Category I merchant banker and research analyst. It offers the entire bouquet of investment banking and corporate advisory services under one umbrella, covering project advisory and structured financing, capital markets, mergers and acquisitions, private equity, ESG advisory, startup advisory and stressed assets resolution. Headquartered in Mumbai, SBICAPS has seven regional offices of which six are in India (Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata and New ..

Next Story
Infrastructure Urban

Adani Group Invests $240M in Global Skills Academy

The Adani Group has announced a partnership with ITE Education Services (ITEES) of Singapore to establish a world-class talent pipeline for industries such as Green Energy, Manufacturing, Hi-tech, Project Excellence, and Industrial Design. The initiative will see an investment of over $240 million by the Adani family to set up internationally benchmarked schools of excellence, named Adani Global Skills Academy. These finishing schools will train students from technical and vocational backgrounds, equipping them with industry-relevant certifications. Graduates will have employment opportunities..

Next Story
Infrastructure Urban

Swiggy to Invest $120M in Scootsy for Expansion

Food and grocery delivery giant Swiggy Ltd announced on Friday that it will invest up to $120 million in its wholly owned subsidiary Scootsy Logistics in one or more tranches. Scootsy specializes in supply chain services and distribution, including warehouse management, in-warehouse processing with value-added services, and order fulfillment for wholesalers and retailers. "We wish to inform that the Board of Directors of the company, at its meeting held on Friday, February 21, 2025, has approved the investment by the company in the equity shares of Scootsy Logistics Private Limited, a wholly..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?