Funding reality check for India's dream to achieve net-zero by 2070

The Modi government could take a leaf out of Norway's playbook to meet its 2070 emission target instead of passing the buck to the private sector

India harbours a dream but lacks the capital to meet its net-zero carbon emissions target by 2070.

A sprint towards decarbonising its economy by 2050 for “Amrit Kaal” may cost as much as $12.1 trillion, reckons McKinsey. Investment, currently at $44 billion per annum, will likely need to increase 3.6 times by 2030 and 10 times by 2040. The question remains how Indian corporates will raise an amount equal to nearly four times the country’s GDP to finance solar farms, zero-emission vehicles, and scrub agriculture and industries clean.

The Narendra Modi government could take a leaf out of Norway’s playbook