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India targeting net zero by 2070
Indian Prime Minister Narendra Modi has committed India to aim for net zero by 2070, and to reach non-fossil energy capacity of 500 GW and 50% of its energy requirements from renewable energy by 2030.
In bilateral cooperation talks with UK Prime Minister Boris Johnson at the COP26 climate summit, Johnson announced that the UK will provide an Indian Guarantee to the World Bank, to unlock an additional £750mn for green projects across India, to support clean and resilient infrastructure, such as clean energy, transport and urban development.
Furthermore, in an aid-backed private Infrastructure Development Group, the UK has committed over £210mn in new investment to back green projects in developing countries, including electric vehicles in India.
News Item details
Journal title: Petroleum Review
Countries: India -
Subjects: Banking, finance and investment, Electric vehicles, Renewables, Energy policy, Emissions, Climate change, Net zero
