India needs $10.1 trillion to reach net-zero emissions target: Report

net-zero emissions

New Delhi: India will need a total investment of $101 trillion to achieve the target of net-zero emissions by 2070, but it may fall short of around $35 trillion. This has been claimed in a study by CEEW’s Center for Energy Finance (CEF).

CEF said in a statement on Thursday that this investment will be used to make India’s energy, industrial, and transport sectors carbon-free. However, the CEF believes that India may face a shortfall of about $ 35 trillion out of the $ 10.1 trillion required for this. Therefore, to compensate for this, it will need investment support of $ 1.4 trillion in the form of concessional finance from developed countries.

net-zero emissions

The study report also said that India’s energy sector will have to spend a significant portion of the amount needed to achieve the net-zero emissions target. It has stated the need for investment of about $ 8.4 trillion in this item. Prime Minister Narendra Modi announced at the Climate Change Conference in Glasgow that India wants to achieve the target of net-zero emissions by 2070.