New Delhi: 2070 Indian net-zero goals will require a cumulative investment of more than $ 10 trillion, which is more than three times the current measure of the country’s economy, but can face an investment lack of $ 3.5 trillion, according to the first estimated investment for the path The state climate prepared by the Climate Energy Think-Tank Ceew Center for Energy Finance (CEE-CEF).
In a report entitled ‘India Investment Size 2070 Net-Zero Target’, the Estimate Cee-Cef India will require investment support of $ 1.4 trillion in the form of concessions from the developed economy to mobilize the gap.
Prime Minister Narendra Modi announced India’s commitment to achieving net-zero emissions in 2070 in the COP26 Glasgow Climate which was recently concluded amid the upheaval of transition fees from developing countries.
According to the report, investment is mainly needed to assist in the sectors of the strength, industry and transportation of India India.
The majority of investments will be needed to change the electricity sector, which is still very dependent on coal, the most polluting fuel.
The report said $ 8.4 trillion would be prompted to improve generations significantly from renewable energy and related integration, distribution and transmission infrastructure.
Other $ 1.5 trillion must be invested in the industrial sector to prepare green hydrogen production capacity to advance the decarbonization of this sector.
“Developed countries must increase the hard target for climate finance for years.
On the domestic front, financial regulators such as RBI and SEBI need to create an ecosystem that allows to finance the Indian transition to the green economy,” said Chiew Chiew Executive Arunabha Ghosh.
“Given the size of the required investment, private capital, from domestic and international institutions, must form a large portion of investment, while public funds must play a catalytic role by assessing investment in existing clean technology and appear,” he added.
The study takes into account the financial requirements of the $ 1.4 trillion concession will not be uniformly in five decades to 2070.
The average annual concession requirements will vary from $ 8 billion in the first decade to $ 42 billion in the fifth decade.
According to Vaibhav Pratap Singh, leading the program for the report, traditional domestic and foreign sources such as domestic banks and non-banking finance companies (NBFCs), and debt capital markets – both local and international – will not be able to fund massive investments needed alone.
Therefore, access to foreign capital, in the provisions of the concession, must play a key role.
“This study attended the Ceep study on the net-zero target implications for Indian sectoral energy transitions and climate policy ‘.
According to the study, the total solar power capacity installed in India needs to increase to 5,630 gigawatts in 2070.
The use of coal, especially for Power plants, need to peak in 2040 and fell 99% between 2040 and 2060.
Furthermore, crude oil consumption of cross-sector oil needs to peak in 2050 and fall substantially 90% between 2050 and 2070.
Hydrogen green can contribute 19% Of the total energy requirements of the industrial sector.