India Sets Net-Zero Goal for 2070, Calls for $1T in Firm Climate Finance Commitments
India, a nation heavily reliant on coal power, will set out to achieve net-zero greenhouse gas (GHG) emissions by 2070, Prime Minister Narendra Modi pledged in a surprise declaration at the ongoing COP 26 climate summit on Nov. 1.
While India’s central government has yet to issue a detailed plan to achieve the necessary carbon reductions, the nation will kick off its climate ambitions by issuing five aggressive near-term targets.
“First, India will increase its non-fossil energy capacity to 500 GW by 2030,” Modi said in a 12-minute speech (in Hindi) on the first day of the conference in Glasgow, Scotland. “Second, India will fulfill 50% of its energy requirements from renewable energy sources by 2030,” he said. “Third, between now and 2030, India will reduce its total projected carbon emissions by 1 billion tons. Fourth, by 2030, India will reduce the carbon intensity of its economy by 45%. And fifth, by 2070, India will achieve the target of net-zero emissions.”…