Every country has to submit its long-term strategy, showing how it plans to reach its net-zero target. Developed countries have to reach net-zero status by 2050, China has decided to get there by 2060, while India has set 2070 as its target year.
INDIA WOULD need “tens of trillions of dollars by 2050” to transition to a low-carbon development path that would take it to the promised net-zero status by 2070, the government said on Monday.
Separately, nearly two trillion dollars would be required just for adaptation purposes in the short term between now and 2030, it said, in its long-term strategy document that was released at the climate change meeting here.
Every country has to submit its long-term strategy, showing how it plans to reach its net-zero target. Developed countries have to reach net-zero status by 2050, China has decided to get there by 2060, while India has set 2070 as its target year.
India has provided details of the kind of transitions it is seeking to make in electricity, transport, building and forests sectors, along with the research and development efforts and finance that would be required to make these transitions. Unlike some other countries that have submitted their long-term strategies, India has avoided mentioning specific details like numbers, mid-term targets, scenarios, pathways or projections in its journey towards the net-zero goal.
For example, for the transport sector, India has said it will achieve decarbonisation through improved fuel efficiency, adoption of electric vehicles and cleaner fuels, and promotion of public transport. But it does not mention any mid-term goals or the amount of money that it plans to invest to make this work.
The 121-page strategy document has nothing that can be treated as interim targets. India’s climate targets, as for everyone else, is only till 2030. These are what are known as nationally determined contributions, or NDCs, which have to be renewed for a further five-year period every five years.
Environment Minister Bhupendra Yadav emphasised that India’s long-term strategy towards a low-carbon development must be seen in the context of its “right to equitable and fair share of the global carbon budget”. He said the concepts of “climate justice” and “sustainable lifestyle” were incorporated into the strategy.