To achieve net-zero emissions target by 2070 India needs $10-tn investment from now: report

Subject : Environment

Section: Climate change

According to the ‘Getting India to Net Zero’ report, the investment required will be $13.5 trillion if the target is to be met by 2050.
The report also says achieving net-zero by 2070 would boost annual GDP by up to 4.7% by 2036 and create as many as 15 million new jobs by 2047.
The report was released by Rudd, also the president of Asia Society Policy Institute,, former UN Secretary-General and Global Green Growth Institute President & Chair Ban Ki-moon, International Finance Corporation’s Head and Director of Climate Business, Vivek Pathak and former Indian foreign secretary Shyam Saran.

International Finance Corporation (IFC)

The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries.
IFC is the largest global development institution focused exclusively on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.
It is a member of the World Bank Group and is headquartered in Washington, D.C., United States.
It was established in 1956 as the private sector arm of the World Bank Group to advance economic development by investing in strictly for-profit and commercial projects that purport to reduce poverty and promote development.
The IFC is owned and governed by its member countries, but has its own executive leadership and staff that conduct its normal business operations.
It is a corporation whose shareholders are member governments that provide paid-in capital and which have the right to vote on its matters.