India’s much needed Green Investment

Carbon pollution is growing at a rapid pace in India, with emissions having to reduce soon. This will of course require a lot investment from the government of India.

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India’s much needed Green Investment
India’s much needed Green Investment
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According to estimates $3 trillion is needed between 2018 and 2031 to reduce the vast oxides being polluting the Indian environment. According to Paris Climate Change Agreement India has promised to reduce pollution by 35 per cent by the year 2030.

How and where can these investments be made to reduce emissions, need to be examined properly-

Green Buildings

This is a structure either residential or commercial which is responsible environmentally and resource efficient throughout a buildings life cycle. This includes the efficient use of energy, water and reductions in waste and pollution.

A total cost of roughly 1.4 trillion will be needed, with $1.25 trillion for residential sector and $228 billion for commercial sectors by 2030.

Electric Vehicles

Electric vehicles are propelled by electric motors with rechargeable batteries. This reduces the need for gasoline such as petrol or diesel, to help a vehicle move. This will reduce the greenhouse gas emissions, as the number of cars are increasing year on year.

The government of India has expressed concerned over this regard and suggested new car sales should be electric by 2030. This would mean a total investment of $667 billion between the years 2018 and 2030.

Easing Bottlenecks

The main motivational factor for renewable energy projects lies with investors and developers. However, these main parties are discouraged by the constraints such as tender cancellations, lack of pipeline visibility and the removal of incentives.

Overall India needs to invest more into renewable energy such as solar projects, wind power and take a look at other transport issues such as the ports and railways. One goods example is the Azure Project in Rajasthan, India. It boasts of a 40 MW solar power plant which will reduce carbon emissions of 20,000 tons annually. This was the first solar project under IFCs new clean technology investment program.