As we saw earlier this month, Indian greenhouse gases emissions are due to at least triple by 2030. However no hope of climate change mitigation should be lost as McKinsey estimates that halving this increase is possible.
This would require that India allocates $1.1 trillion (750 billion euros) within the next twenty years – an estimated 2 percent of its GDP – in various projects like renewable energy and efficiency projects.
This would be a huge investment for the country but would bring huge returns in terms of decreased energy needs and imports and could enable India to become a world leader in cleantech.
On a sidenote, the local Environment Minister Jairam Ramesh stated that the country is ready to accept non-binding emission reduction targets. No doubt that this report could play an important role in Copenhagen in a couple of months…
To download the full report directly from Mc Kinsey (pdf, 2.6 Mb) please click on the image above.