COP26: India will reach net zero emissions by 2070, says PM Modi

Prime Minister Narendra Modi on Monday gave a five-pronged target for India and finally committed to a Net Zero emission target by 2070, joining the likes of the US, the UK and China.

“I am giving a panchamrit — five targets that India is committing to join the global fight for climate change — by 2030. Our non-fossil capacity will touch 500 Gw and 50 per cent of our energy needs will come from renewable energy sources. From now to 2030, the projected carbon emissions will reduce by 1 billion tonnes and our overall carbon intensity of the economy will see a 45 per cent reduction.”

In line with expectations from the UK and the US, he said India would be a Net Zero economy by 2070.

Net Zero is achieved when the amount of greenhouse gas produced is offset by the amount removed from the atmosphere. This entails no future investment in coal or fossil fuels and greening several industries and economies.

Modi also upped the renewable energy target of the country to 500 Gw by 2030. It was 450 Gw earlier. India’s current RE capacity stands at 175 Gw.

“Today India’s installed renewable capacity is fourth in the world. In the last seven years, our non-fossil fuel energy has seen 25 per cent growth and the share of green energy in the mix reached 40 per cent,” Modi said, adding that India’s national transporter, Indian Railways, had declared a Net Zero target year of 2030.

“This entails 60 million tonnes of emission reduction every year. Another 40 million tonne emissions reduction will come from our LED programme,” Modi said.

He spoke of several other initiatives of India, including the International Solar Alliance (ISA), and said India had joined the Coalition for Disaster Resilient Infrastructure.

He asked the developed world to increase financing to meet the enhanced targets that India had declared.

“India has raised its ambition in setting its targets. They also need to raise ambitions in climate finance and tech transfer. The world cannot achieve newer targets with old goals of climate finance,” Modi said.

India is the only country to fulfil commitments made in Paris. India is putting climate change at the centre of its policies, Modi said.

“Whole world thinks is only one economy which has worked Paris agreement on letter and spirit and it is India,” said the PM.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor