India Needs up to $12.1 Trillion by 2050 to Reach Net Zero Target: Think Tank

India will need investments amounting to US$7.2 trillion (A$10.7 billion) to $12.1 trillion by 2050 to achieve its net zero ambitions, a think tank said. The South Asian country has committed to decreasing its carbon emissions to below 45 percent by 2030 and reaching net zero emissions by 2070. However, according to the Institute for Energy Economics and Financial Analysis (IEEFA), India’s renewable energy capacity additions decreased by 20.3 percent from 16 gigawatts (GW) in 2022 to 13GW in 2023. This is despite the country needing power generation capacity to increase to 900GW from the current 445GW to reach the forecasted power demand by fiscal year 2031-32, which may be revised due to recent temperature anomalies....