Investment Opportunities in India's Transition to a Low-Carbon Economy
India's transition to a low-carbon economy will demand a vast amount of funding over the next five decades. India is central to global efforts to reduce emissions.
While India's per capita emissions rate is low in relative terms, the country is the world's third largest emitter - emitting a net 2.9 gigatons of carbon-dioxide equivalent per year - by virtue of its size, population, and reliance on carbon-intensive energies and industry.
According to analysts at the consultancy firm McKinsey, 68 percent of Gen Zers in India reported feeling anxiety about climate change.
India has the potential to create 287 gigatons of carbon space for the world. In order to meet its carbon emissions promises, India requires funding and investment, much of it front loaded.
India currently lacks sector-specific targets in several areas and these will be needed to gauge progress and develop policies that can enhance investment and carbon emission reductions.
It is clear that much greater levels of investment are required if India is to reach its climate change targets. India will require US$223 billion in investment to meet its goal of wind and solar capacity alone by 2030, according to BloombergNEF. EV Adoption.
The need to make provisions for India's poor during the transition is accentuated by climate change, which has increased the frequency of extreme heat waves, droughts, and rains.