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India’s climate action strategy centralises the target of reaching net zero emissions by 2070. Anjal Prakash, clinical associate professor and research director at the Bharti Institute of Public Policy, ISB, alongside Nishant Gupta and Ayush Chakraborty, PGP students at ISB, discuss the country's progress and the challenges that remain in reaching this goal, in a coauthored piece for Forbes India.

 India has made significant developments in its clean energy transition. Under the Panchamrit Action Plan, the government aims to increase non-fossil fuel capacity to 500 GW and source 50 per cent of its energy from renewables by 2030. The authors note, “The progress seems encouraging on several fronts. Today, India stands fourth globally in total renewable capacity, demonstrating a 400 per cent growth over the last decade.”

Despite this progress, the country faces a lot of challenges. It remains heavily reliant on coal, which contributes 72 per cent of its electricity generation and accounts for 65 percent of its fossil fuel CO2 emissions. “One of the urgent issues that looms over this journey is the continuing reliance on coal and other fossil fuels,” the authors emphasise. Moreover, infrastructure for electric vehicles remains inadequate, with fewer than 2,000 public charging stations as of 2023.

Decarbonising industrial sectors like cement, steel, and chemicals presents further hurdles, with the authors noting that “more than 40 per cent of the associated emissions from these industries stem from fossil fuel use. Deep decarbonisation in these sectors, with high costs and technology limitations, becomes challenging.” The deployment of Carbon Capture, Utilisation, and Storage (CCUS) technologies has been slower than expected, and many projects are still in the pilot phase.

 Achieving net zero will require significant investment, estimated at $10.1 trillion by the Centre for Energy Finance. Innovative financing methods, like green bonds and public-private partnerships, are essential to accelerate progress, the authors suggest.

 They conclude, “India's journey toward achieving net zero emissions by 2070 reveals a mix of promising initiatives and significant challenges. While strides have been made in expanding renewable energy capacity and promoting electric vehicles, critical gaps remain, including a heavy reliance on coal and inadequate charging infrastructure. The urgency for immediate and sustained action cannot be overstated; collaborative efforts across all sectors are essential to remain on track for the 2070 target.”