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Big Deal: How will India reach net-zero carbon emission target? Experts discuss

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In this episode of ‘Big Deal’, experts talk about something which is gaining traction across the world ushering into a new era of climate consciousness. India has announced the green goal on net-zero carbon emission by the year 2070. What path will India need to take to reach this target and how will this ambition really get funded? To discuss this CNBC-TV18’s Nisha Poddar spoke to experts in this particular space.

India's Prime Minister Narendra Modi in the COP26 Summit has announced the green goal to reach net-zero carbon emission by 2070. India is the third-largest emitter of greenhouse gases after China and the United States.
What path will India need to take to reach this target and how will this ambition really get funded? To discuss this, CNBC-TV18’s Nisha Poddar spoke to experts like Rajat Gupta (Senior Partner and Leader of Sustainability Practice in Asia at McKinsey & Company) and Amal-Lee Amin (Climate Change Director at CDC Group).
On India’s net-zero target Gupta said, “This is an acceleration of India's past commitment. The announcements for 2030 itself does raise the bar on what we have as a nation committed in the past, both in terms of the greenhouse gas intensity.”
He added, “Now the big thing, at least for me is the fact that this 2070 net-zero pledge will probably lead to us developing a 30-50 year plan for greening our country. Hopefully, that also leads to some stable policymaking and clarity on our roadmap over the next few decades.”
Gupta believes that overall the announcement demonstrates a flexible approach. “We aspire we perform, which we did so far as a nation, and then we raised the bar, and hopefully will continue to raise the bar and maybe even before 2070 if things work out well,” he added.
Amin said, “This commitment to being net-zero is an ambitious goal, but it is also very much in India's own interest to be part of this global transition ... So renewable energy and particularly, India's commitment for 50 percent of electricity to come from renewable energy by 2030 will bring you many benefits beyond just the climate solution.”
For full interview, watch the accompanying video...
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