India’s road to net zero carbon emissions will be long and challenging — while it’s not impossible, it will need a lot of strategic planning in the decades ahead, economists told CNBC.

The world’s third-largest emitter of greenhouse gases surprised the world on Monday by setting a target for net zero carbon emissions — after years of rejecting calls for it.

Prim Minister of Canada, speaking at the COP26 summit Narendra ModiIndia, he said, would aim for net zero carbon emissions by 2070. Although it is the first time India has pledged such an action, this timeline still exceeds the 2050 goal set by climate summit organizers.

Net zero emissions refer to achieving an overall balance between greenhouse gas emissions produced and greenhouse gas emissions removed from The atmosphere can be captured by natural methods or the still emerging carbon capture technology.

Ulka Kelkar from World Resources Institute in India said she was stunned by how heated the debate has become about net zero.

Kelkar claimed that India’s goal of 2070 by 2030 is possible if India takes into account the other aspects. other targets for 2030 that Modi announced

These include:

• India’s renewable energy potential will grow to 500 gigawatts in 2030.
• Renewable sources would provide around 50% of the country’s energy requirements.
• This will result in a reduction of carbon emissions total by half a million tonnes between now and 2030.
• India is reducing its economic carbon intensity by less that 45%

Kelkar, via email, stated that these pledges will provide industry with policy certainty and inspire India’s cities and states to create their own net-zero development pathways.

India will become a richer nation by 2070, with an income per capita that is much greater than the rest of the world, according to Vaibhav Chaturvedi, an economist from the Council on Energy, Environment and Water.

We think 2070 is possible. He said Tuesday that it was not going to happen easily.

The process requires a lot more strategic planning. Planning is key. Chaturvedi stated that it is unlikely to occur just because an announcement has been made. It will take a lot more sectoral initiatives, planning for policy and intervention.

It is still not clear, but we are working on it. He said that the announcement was just made and that it would likely be solved in the following year.

Chaturvedi explained that India has to navigate potential challenges — such as ensuring that coal workers are not left behind, energy prices do not rise in the near term and getting the state governments on board. To make the transition possible, power distribution reforms will also be “absolutely essential”.

Hydrogen is “a”versatile energy carrierAccording to the International Energy Agency, “which can help meet different energie challenges.” There are many applications it can use to reduce carbon emissions across many industries.

However, most hydrogen production relies upon fossil fuels as power sources. This makes it polluting.

According to Chandrashekhar Dasgupta (a former climate negotiator in India, and ex-ambassador for the European Union and China), the goal of the world is to reduce global emissions to net zero by 2020.

In an email to CNBC, Dasgupta, distinguished fellow emeritus of The Energy Research Institute said that “the major technological breakthroughs in decarbonization will most originate in these countries.” He made the statement before India’s shock announcement.

He added that the poorer nations will be following suit during the last half century.

“Affluent countries are able to bear the high initial R&D and other overhead costs. He said that costs will eventually fall with the use of economies-of-scale and differential pricing. This will allow poorer countries to take their lead.”