STOCK MARKET BSE NSE

Low Carbon Tech market worth $135 billion: Study

Published: 10th October 2012 10:26 AM  |   Last Updated: 10th October 2012 10:27 AM   |  A+A-

The clean energy sector in India is expected to boom and the market for low carbon technology will expand from $10 billion in 2011 to $135 billion by 2020, according to Lord Mayor of London David Wooton.

Delivering a special address during the launch of a report on Fiscal instruments for Low Carbon Investment and Industrial Development in Tamil Nadu, West Bengal and Odisha, an event organised by the Confederation of Indian Industry here, he highlighted the rise in oil prices and stressed the need for economies to invest in innovative renewable technologies and create sustainable growth.

Stating that $100 billion a year would be required by 2020 to green the economies of developing nations and $1 trillion investment every year up to 2030 to reduce emissions by 50 per cent in 2050, he said the challenge is to find the right levels of investment to tackle climate change. The UK’s Foreign and Commonwealth Office funded the study under its Prosperity Fund India programme with the CII and Madras School of Economics as partners.

British deputy high commissioner Mike Nithavrianakis said the project in Tamil Nadu involves integrating low carbon into master planning of cities. He said in Madurai support is being offered through partners to develop low carbon tools in the Indian context.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp