Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan.
In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
A memorandum by the NITI Aayog in April noted: "Keeping in view India's commitments on climate change at the United Nations Framework Convention on Climate Change, its development needs, and the goal of becoming a developed nation by 2047, the following working groups have been created to identify issues, develop pathways, and suggest policy action on various aspects of climate change."
The memo, titled "Formulation of interministerial working groups to develop pathways for meeting national commitments on net zero and to propose strategies and interventions for achieving the same", includes representation from current and former government officials, sector regulators, financiers, sector experts, academicians, and industry representatives.
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