India needs $13 trillion to hit net zero emissions by 2050

 India needs $13 trillion to hit net zero emissions by 2050 India will need to invest $12.7 trillion in its energy system, or more than three times its gross domestic product, to reach net zero emissions by mid-century and help the world avert disastrous planetary warming, according to BloombergNEF. Hitting that target early — ahead of India’s official goal of 2070, which lags the world’s largest economies — will require moving swiftly to clean-up the country’s vast and coal-dependent electricity sector, according to BNEF’s New Energy Outlook for India, published on Thursday. That means grid investments to handle variable renewable power, and also scaling up the cash going into green energy. The world’s third-biggest emitter of greenhouse gases currently produces about 70% of its electricity from coal, and the same fossil fuel underpins a range of heavy industries, such as steel, cement and aluminum. That’s despite rapid expansion in renewable energy, with a record-high of 16 gigawatts of utility-scale solar installed in 2022. [Read More »]( [Unsubscribe](