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Edited by Belinda Yu Editor, Atlanta
Green ambition. EV-charging stations, climate tech start-ups, and corporate India’s focus on sustainability are all signs of activity in India’s clean-energy transition. Investors are increasingly funding companies working in green technologies. India’s climate tech businesses snapped up roughly $2 billion from private investors, out of a global pot of $27 billion in similar investments. Homegrown entrepreneurs are founding companies in areas such as EV charging and carbon accounting, devoting energy and effort to helping the country cut carbon emissions. [WaPo]
A threat to health. Pollution is substantially cutting short the life expectancy of Indians. Poor air quality decreases the average Indian’s life expectancy by five years, while in Delhi, air pollution reduces life expectancy by a decade, according to a University of Chicago report. Dust, soot, and other contaminants in the air can shorten life expectancy more than smoking, per the report. Decarbonizing India’s economy should therefore be treated with great urgency, which requires the rapid use of next-generation technologies, experts say. [WEF]
Net zero by 2070. India is aiming to reach net-zero emissions by 2070, an important milestone in the fight against climate change that was announced at the 2021 UN Climate Change Conference (COP26). Despite having low greenhouse-gas emissions when calculated per person, India is the world’s third-largest emitter, with roughly 70% of emissions driven by six sectors (including power, steel, and automotive). Decarbonizing the country could potentially create 287 gigatons of carbon space for the world, explain McKinsey senior partners Rajat Gupta and Shirish Sankhe and their coauthors.
Significant challenges. To fulfill India’s goal of achieving net-zero emissions by 2070, the country needs a large amount of funding. From now until 2050, India may need to invest $7.2 trillion to $12.1 trillion (3.5% to 6.0% of cumulative GDP through this period) in green technologies. But when it comes to decarbonizing India, funding is not the only challenge. There’s also the addition of renewable capacity and the reduction of battery and hydrogen costs, among others. See ten actions to accelerate India’s decarbonization.
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