Indian Prime Minister Narendra Modi announced during the COP26 climate summit that his country planned to reach net-zero emissions by 2070. The announcement received warm welcomes from delegates at the meeting, although it is two decades behind wealthy nations such as the US and the UK. India is the world’s third-largest greenhouse gas emitter behind China and the US.
The country is expected to face challenges to finance its push into carbon neutrality, which will require trillions of dollars of investment. Modi said that rich countries should lend support to poorer nations to accelerate the shift to greener energy sources. Modi said India expected developed nations to provide $1 trillion as soon as possible to combat climate change.
Under the new 2070 net-zero goal, Modi raised India’s 2030 target for low-emission energy capacity to 500 GW from 450 GW and vowed to generate half the country’s electricity from renewable energy. India will also cut CO2 emissions by 1 billion tons by the end of the decade. He also committed to raising India’s 2030 carbon intensity reduction goal from 35% to 45%. To reach the 2070 goal, India still has to outline a detailed plan for the 40 years in between.
