Moody's: Rising energy demand may hinder India's decarbonization

India has made strides in building its renewable energy capacity and moving towards its decarbonization goals with a commitment to achieve net zero emissions by 2070, and interim targets set for 2030, according to Moody's rating report.

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While some progress has been achieved in reducing greenhouse gas (GHG) emissions, India's rapidly growing economy and expanding population are driving up energy demand, creating significant challenges for its carbon transition efforts. John Wang, Vice President - Senior Analyst, Moody's Ratings, said, "India has committed to achieve net zero by 2070, and some progress has been made toward its 2030 interim decarbonization milestones. But the country's fast-expanding economy will continue to drive up greenhouse gas (GHG) emissions." India's share of global GHG emissions rose from 6.7 per cent in 2019 to 7.5 per cent in 2022, as the coun