Developing economies can have climate resilient energy independence: Report

Developing economies such as India have an enormous opportunity to build energy independence and grow in a climate resilient manner, in the process creating a thriving corporate sector that best leverages these increasingly prominent global financial capital market priorities, and funding capacities, a new report released on Tuesday said.

As one of the fastest growing large economies, India’s burgeoning energy sector can make a major contribution to immediate and deep emissions reduction, says a new report by the Institute for Energy Economics and Financial Analysis (IEEFA).

The Intergovernmental Panel on Climate Change (IPCC), in its Working Group III report released last month gave a grave warning for the world: “Unless there are immediate and deep emissions reductions across all sectors, 1.5 degrees Celsius is beyond reach.”