Modi’s climate goal requires more than finance

MUMBAI, Nov 2 (Reuters Breakingviews) – Prime Minister Narendra Modi’s surprise decision to set a net-zero carbon emissions goal for 2070 underscores the world’s third largest polluter’s desire to be viewed as a good climate citizen. India’s target, set for a decade behind China, came with a demand for rich countries to sharply increase their climate finance commitments to developing nations. Funding is key, but it’s a second level requirement after clearing technological hurdles.

India has ramped up renewable energy fast. Most of the country’s new power demand is being met with solar and other clean alternatives. But the development of large-scale and long-duration storage solutions are a prerequisite read more to get more green energy onto India’s grid. Only once that is achieved can Modi decommission the full existing fleet of coal-fed plants that currently play a critical role in stabilising power supply.

In the absence of China’s President Xi Jinping, the Indian leader’s mere presence at the Glasgow climate change conference might have been enough to underscore his government’s determination to act. But by setting a net-zero goal, and more ambitious nearer term targets too, there’s little room left to doubt India’s intentions. (By Una Galani)

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Editing by Robyn Mak and Katrina Hamlin