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India will achieve net-zero emissions by 2070, Prime Minister Narendra Modi declared Monday at the United Nations Climate Change Conference--COP26.
The Prime Minister underlined the need for nations to work together to combat the destructive impacts of climate change during his speech at the COP26 climate change meeting in Glasgow.
This is one of the five commitments which Modi refers to as 'panchamrits' that will be an unprecedented contribution of India to climate action.
Modi stated at the summit that India, the world's third-largest emitter of greenhouse gases, would increase its non-fossil energy generation capacity to 500GW by 2030, meet 50% of its energy requirements from renewables by 2030.
As India is one of the largest emitters in the world--along with the U.S. and China--a lot of people are looking out for India's commitment towards net zero. However, the difficulty for India is how to fund net-zero energy as the shift would need billions of dollars in investment.
Modi underlined his belief that rich countries should assist developing countries by generating more funds to hasten the transition to renewable energy.
India expects developed countries to provide climate finance of $1 trillion at the earliest, PM Modi said. Today, it is necessary that as we track the progress made in climate mitigation, we should also track climate finance.
He added: The proper justice would be that the countries which do not live up to their promises made on climate finance must be pressured too.
India pledges to reduce total projected carbon emissions by 1 billion tonnes by 2030, and reduce the carbon intensity of the economy to less than 45 percent by 2050.
LIFE Movement
In addition to that, PM Modi admits that lifestyle has a major role in climate change.
I propose to you today a One-Word Movement. The is a word- LIFE...L, I, F, E, i.e., Lifestyle For Environment, PM Modi said. Today, there is a need for all of us to come together, together with collective participation, to take Lifestyle For Environment (LIFE) forward as a campaign.
Five commitments PM Modi made at COP26
1. India will reach its non-fossil energy capacity to 500 GW by 2030.
2. India will meet 50 percent of its energy requirements from renewable energy by 2030.
3. India will reduce the total projected carbon emissions by one billion tonnes from now onwards till 2030.
4. By 2030, India will reduce the carbon intensity of its economy by less than 45 percent.
5. By the year 2070, India will achieve the target of Net-Zero.
The Prime Minister mentioned the Indian Railways' goal of attaining net-zero emissions by 2030, as well as India's plan to save 40 billion tonnes of carbon through the LED bulb campaign.
Moreover, India is the only country that is delivering in 'letter and spirit' on the Paris Declaration commitments on tackling climate change, Modi said.
Inputs from PIB.GOV
Picture Credits: NDTV