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

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.

- Arunima Bharadwaj

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.

India will need an investment of around $200-250 billion by 2030 to add 300 GW of renewable energy capacity by 2030 to bridge the gap between its current capacity and the announced target of 500 GW of RE capacity, according to a latest report published by Deloitte.