India must reduce energy intensity to reach net zero 2070 target: RBI

India’s goal of achieving the net zero target by 2070 would require an accelerated reduction in the energy intensity of GDP by around 5 per cent annually and a significant improvement in its energy-mix in favour of renewables to around 80 per cent by 2070-71, a report released by the Reserve Bank of India (RBI) on Wednesday said.

It further said that India’s green financing requirement is estimated to be at least 2.5 per cent of GDP annually till 2030, adding that a balanced policy intervention with progress ensured across all policy levers, will enable India to achieve its green transition targets by 2030, thus making the net zero goal by 2070 attainable.