Paris Agreement Enables India to Attract $3.1 Trillion of investments by 2030

India’s target of installing 175GW of energy capacity by 2022 claim to have potential of $448 billion worth investments.

renewable energy

As per the report issued by the International Finance Corporation (IFC), around $3.1 trillion worth investments are to be expected by 2030. The investments majorly aimed at accomplishing goals as set by the Paris agreement. The investments will be offered to renewable energy, green buildings, transport infrastructure, electric vehicles and climate-smart agriculture, IFC, a member of the World Bank Group mentioned.

India’s target of installing 175GW of energy capacity by 2022 claim to have potential of $448 billion worth investments and aims to achieve 40 per cent of installed capacity from renewable (Solar, Wind, etc) by 2030.

Almost 70 percent of the required construction is about take place by 2030 tapped at the rapid urbanization and development. An investment of $1.4 trillion is expected for the opportunities in green-building and infrastructure.

As per IFC’s analysis about $250 billion investment could come in transport infrastructure and $667 billion in electric vehicles to matchup government’s goal of electrifying all new vehicle by 2030.

“The only way that the South Asian countries can take advantage of these climate investment opportunities is with a strong and engaged private sector,” said IFC CEO Philippe Le Houérou.

According to a regional study examining the climate-investment opportunities in Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka, the observation and inference says that all these countries constitute to 7.38 per cent of the global carbon dioxide emissions.

Also, the report suggests $172 billion of climate-smart investment opportunities in Bangladesh, $42 billion in Bhutan, $2 billion in the Maldives, $46 billion in Nepal, and $18 billion in Sri Lanka.

“We also need to have a comprehensive approach to creating markets for climate business in key sectors. That means putting in place necessary policy frameworks, promoting competition, and building capacity and skills to open new markets,” added Le Houérou.

Source: ET Energy world

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