Prime Minister Narendra Modi announced in his COP 26 speech that India will set a target of net-zero emissions by 2070. This is being seen as a ‘surprising’ development since India had not accepted such a target earlier unlike some other major world economies. India is the third-largest carbon emitter at present.
To offset the economic effects of this commitment and ensure that it does not fall behind, Modi reiterated India’s stance that rich countries should channel funds into effective climate finance to help make the transition to a clean economy viable for developing countries.
Modi also announced a slew of climate measures India would adopt in the short-term to accelerate towards the target of net-zero emissions. By 2030, 500 GW instead of 450 gigawatt s of low-emitting energy will be produced, and half of the country’s electricity will be generated from renewables.
An expert adviser to the PM was quoted saying that India’s announcement is “equitable and just”
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