India Draft Plan Reveals $21 Trillion Net-Zero Investment Need

India will need as much as $21 trillion to achieve its climate goals and lift its population out of poverty, according to a draft government plan seen by Bloomberg. From the report: The estimate offers a first glimpse of how the country intends to live up to its target of net zero emissions by 2070. The updated scenario implies hitting peak emissions in 2045, which is a decade earlier than the current trajectory.

India is already being severely battered by the fallout of climate change, as deadly floods and heat waves become more destructive each year. But the need to mitigate the emissions that feed climate change has historically been at odds with India's priorities of economic growth and energy security, with the latter still mostly provided through coal. The new plan shows India will seek to achieve climate and economic development goals simultaneously, with low-carbon options envisaged for much of its yet-to-be-built residential and industrial infrastructure.

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