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Ecology & Environment
Mahesh

27/08/22 11:30 AM IST

India may need $10 trn investment to achieve net-zero emission by 2070

In News 
  • According to the ‘Getting India to Net Zero’ report, to achieve a net-zero emissions target by 2070, India needs a $10-tn investment from now.
Major Findings 
  • Achieving net zero by 2070 would boost annual GDP by up to 4.7% by 2036 and create as many as 15 million new jobs by 2047.
  • Set to achieve 2015 target: India’s NDC targets set in 2015 are likely to be met early within the next few years through current policies
  • India could peak in emissions as soon as 2030.
  • Ending new coal by 2023 and transitioning from unabated coal power by 2040 would be particularly impactful for reaching net zero emissions closer to mid-century.
  • Acknowledged historical responsibility: Historical responsibility for emissions does lie with the West – and the transfer of finance and technology to developing countries is crucial in this challenge.
Panchamrit pledge
  • Reach 500 GW of Non-fossil energy capacity by 2030.
  • 50 per cent of its energy requirements from renewable energy by 2030.
  • Reduction of total projected carbon emissions by one billion tonnes from now to 2030.
  • Reduction of the carbon intensity of the economy by 45 per cent by 2030, over 2005 levels.
  • Achieving the target of net zero emissions by 2070.
Source- PIB 

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