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IMF has welcomed India's statements at Glasgow environment summitInternational Monetary Fund (IMF) has actually invited India's announcement at the COP26 summit on new targets to increase reliance on renewables and lower the carbon strength of its economy, including to adopt a net absolutely no target by 2070.

Gerry Rice, Director, Interaction Department at the IMF, said India's actions may assist catalyse action in other emerging economies as well in addressing the climate change challenges.

We welcome India's announcement at the COP26 of brand-new targets to increase reliance on renewables and minimize the carbon strength of its economy, including to adopt a net no target by 2070, Mr Rice informed reporters at a news conference on Thursday.

As you understand, India is currently one of the world's largest emitters, still greatly reliant on coal for electrical energy generation.

India's considerable investment in renewables and environment modification adaptation policies recommend it is well positioned to take further steps to reach this new target, Mr Rice said reacting to a question.

We are heartened by India's focus on achieving development in the existing decade provided the urgent requirement for worldwide mitigation action.

And similar to other nations, it will be important to follow through with specific actions to contain emissions over the present decade, he added.At the COP26 summit in Glasgow, Prime Minister Narendra Modi made significant statements, including the bold pledge of India becoming net absolutely no by 2070.

Besides the net no target, Mr Modi likewise raised India's Nationally Figured out Contributions (NDCs) of accomplishing 450 giga watt non-fossil energy capacity to 500 giga watt by 2030.

India will increase its non-fossil energy capacity to 500 giga watt by 2030; India will satisfy 50 percent of its energy requirements from renewable resource sources by 2030.

Between now and 2030, India will reduce its overall forecasted carbon emissions by 1 billion tonnes and by 2030, Mr Modi had actually stated at the conference.





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