India needs to invest $1.5 trillion for climate action: Deloitte

Energy Transition

- ARUNIMA BHARADWAJ

INDIA WOULD REQUIRE around $1.5 trillion investment by 2030 across key areas to address the climate challenge at scale, according to Deloitte India's latest report.

The report titled 'The climate response: Tapping into India's climate and energy transition opportunity' highlights that investments will be driven by India's efforts towards renewable energy, biofuels, decarbonisation and sustainable infrastructure to combat climate change.

"This investment will reduce emissions, boost job creation, enhance energy security and protect vulnerable communities from climate risks. Financial instruments, such as green bonds, climate funds and blended finance models, are important in mobilising capital for sustainability initiatives," said Viral Thakker, partner and sustainability and climate leader, Deloitte South Asia.