‘India needs to invest in green tech’

Hyderabad: It is not by following the tried and tested model of ‘farm to factory’ that India can continue its growth trajectory and achieve its climate goals, instead it will have to create more number of green jobs & invest in green technologies to grow in a sustainable manner, said Jayant Sinha, chairperson for the parliamentary standing committee on finance, here on Sunday.
“Net Zero will be ‘Net Positive’ for India. For us to get to Net Zero, we will have to do four things: Our entire electricity system has to move towards zero emission, all of our transportation has to switch towards electric, we have to invest massively in green technologies and implement carbon trading system,” he said while addressing participants at the CEO Clubs India three-day annual summit Hyderabad.
He said it is the private sector that will have to step up its effort to ‘decarbonise’ and it will require massive investments in the coming days.
“Net Zero 2070 will require $2-3 trillion incremental capital,” he said.