IMF applauds India’s net zero 2070 pledge

Gerry Rice, Director, Communication Department at IMF, said India’s actions may help catalyse action in other emerging economies as well in addressing the challenges of climate crisis.

The International Monetary Fund (IMF) has welcomed India’s announcement at the COP26 summit on new targets to increase reliance on renewables and reduce the carbon intensity of its economy, including adopting a net zero target by 2070.

Prime Minister Modi speaks during the "Accelerating Clean Technology Innovation and Deployment" event at the COP26 UN Climate Summit.(AP)

Gerry Rice, Director, Communication Department at IMF, said India’s actions may help catalyse action in other emerging economies as well in addressing the challenges of climate crisis. “We welcome India’s announcement at the COP26 of new targets to increase reliance on renewables and reduce the carbon intensity of its economy, including to adopt a net zero target by 2070,” Rice said Thursday.

At the summit, Prime Minister Narendra Modi made significant announcements, including the pledge of India becoming net zero by 2070 and raising India’s NDCs of achieving 450 giga watt non-fossil energy capacity to 500 giga watt by 2030.