Saturday, December 21, 2024 | 06:30 PM ISTEN Hindi

Home / Specials / News / Funding reality check for India's dream to achieve net-zero by 2070

Funding reality check for India's dream to achieve net-zero by 2070

The Modi government could take a leaf out of Norway's playbook to meet its 2070 emission target instead of passing the buck to the private sector

The world’s CO2 emissions peaked just prior to the onset of the Covid-19 pandemic, then in 2020 registered the biggest annual decrease since at least 1965, according to data from BP Plc. (Photo: Bloomberg)

Premium

India needs over $400 billion in capital annually to accelerate emissions reduction, much of which is risky because it involves new technologies, and requires state support

S Dinakar

7 min read Last Updated : Dec 11 2022 | 10:24 PM IST

India harbours a dream but lacks the capital to meet its net-zero carbon emissions target by 2070.

A sprint towards decarbonising its economy by 2050 for “Amrit Kaal” may cost as much as $12.1 trillion, reckons McKinsey. Investment, currently at $44 billion per annum, will likely need to increase 3.6 times by 2030 and 10 times by 2040. The question remains how Indian corporates will raise an amount equal to nearly four times the country’s GDP to finance solar farms, zero-emission vehicles, and scrub agriculture and industries clean.

The Narendra Modi government could take a leaf out of Norway’s playbook

Topics : Modi govt Carbon emissions Global Warming private sector Green energy

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in