India has promised to make its economy more energy efficient and to cut emissions intensity of its GDP by 33-35 per cent by 2030 from 2005 levels, in a climate-change policy statement released ahead of a UN summit in Paris in December.
India, the world’s third-largest emitter of greenhouse gases, also said it would target 40 per cent cumulative installed power capacity from non-fossil fuel sources by 2030.
New Delhi has ruled out committing to absolute cuts in carbon emissions, in contrast to the United States, China and other big nations which have announced peak years for emissions.
Preliminary estimates indicate India would need to spend around $206 billion between 2015 and 2030 for implementing adaptation actions in agriculture, forestry, fisheries infrastructure, water resources and ecosystems, it said.
“India’s climate actions have so far been largely financed from domestic resources. A substantial scaling up of the climate action plans would require greater resources…,” said the statement, which was lodged on Thursday with the UN Framework Convention on Climate Change.
A preliminary estimate suggests that at least $2.5 trillion will be required for meeting India’s climate change actions between now and 2030, it said.
Indian Prime Minister Narendra Modi met US President Barack Obama and France and Britain’s leaders last month, and called for a climate change agenda that helps developing countries with access to finance and technology.