WASHINGTON: IMF has welcomed India’s announcement at the COP26 Summit on new targets to increase the dependence on renewable energy and reduce the economic intensity of its economy, including adopting a net zero target in 2070.
Gerry Rice, Director, Community Department at Monetary International Funds (IMF), Said Indian actions can help cemeterize actions in other developing countries also in overcoming the challenges of climate change.
“We welcome India’s announcement at COP26 new targets to increase dependence on renewable energy and reduce the intensity of its economic carbon, including adopting a net zero target in 2070,” Rice told reporters at a press conference on Thursday.
“As you know, India is now one of the largest emitors in the world, it is still very dependent on coal for electricity generation.
India’s significant investment in the improvement and policy of climate change adaptation shows that it has a long step to achieve this new target,” rice said Respond to questions.
“We are deceiving with India’s focus on achieving progress in the current decade given the urgent need for global mitigation actions.
And with other countries, it is important to follow up with specific actions to contain emissions over the current decade,” he added.
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At the COP26 summit in Glasgow, Prime Minister Narendra Modi made a significant announcement, including a thick promise of India to zero zero in 2070.
In addition to the net zero target, PM Modi also raised the contribution specified nationally (NDCs) to reach 450 giga watt non – Energy capacity of up to 500 giga watts in 2030.
“India will increase its non-fossil energy capacity to 500 giga watts in 2030; India will meet 50 percent of its energy needs from renewable energy sources in 2030.
Between now and 2030, India will Reducing the total carbon emissions projected by 1 billion tons and in 2030.
“India will reduce the intensity of its economy by 45 percent and reach zero zero targets in 2070,” said the Prime Minister, added that this five Elixir would be a contribution that had never been happened before by India on climate action.
He also confirmed that India was the only country that made it Own “Letter and Spirit” commitment to deal with climate change under the Paris agreement.