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India could spend 11% of GDP in reaching net zero emissions by 2050: Report

Annual capital spending on physical assets in India would rise from around $300 billion in 2020 to an average of $600 billion between 2021 and 2050, McKinsey believes

The world’s CO2 emissions peaked just prior to the onset of the Covid-19 pandemic, then in 2020 registered the biggest annual decrease since at least 1965, according to data from BP Plc. (Photo: Bloomberg)
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Ashley Coutinho Mumbai
India would need to invest a relatively large portion of GDP towards decarbonization: India’s annual capital spending on the transition would be about 11 per cent of GDP in the Net Zero 2050 scenario, compared to the global average of about 7.5 per cent of GDP. 

This is according to global consultancy McKinsey's report ‘The net-zero transition: What it would cost, what it could bring,’ that assesses the road to net-zero emissions by 2050 and the implications for the same.

Net Zero 2050 is an ambitious scenario that limits global warming to 1.5 °C through stringent climate policies and innovation, reaching

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First Published: Jan 25 2022 | 6:57 PM IST

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