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India has a particularly daunting climate challenge.
The world’s third-biggest emitter of greenhouse gases, the country will need almost $13 trillion in investment — more than three times its gross domestic product — to reach net zero carbon emissions by the middle of this century, ahead of its 2070 goal, according to BloombergNEF.
That’s likely to be an uphill battle, despite rapid expansion in renewable energy as India’s fossil-fuel titans turn their gaze to solar and wind farms and green hydrogen. The nation currently produces about 70 per cent of its electricity from coal, of which it has significant natural reserves.
The energy demands of an expanding middle class and a fast-growing economy run counter to India’s commitment to meet global goals on reducing emissions. It’s a tension Bloomberg explores in its four-part video series — Is This India’s Moment?
Cracking the climate code will be pivotal to whether India’s rise as a new economic powerhouse is sustainable, in more ways than one.
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