IMF welcomes India's announcement at COP26

Updated: Nov 5 2021 5:38AM

Washington, Nov 5 (PTI) The International Monetary Fund (IMF) on Thursday welcomed India's announcement with regard to addressing the climate change challenges at the recently concluded COP26 summit in Glasgow.

"We welcome India's announcement at the COP26 of new targets to increase reliance on renewables and reduce the carbon intensity of its economy, including to adopt net zero target by 2070," Gerry Rice, Director, Communication Department, IMF, told reporters at a news conference.

"As you know, India is currently one of the world's largest emitters, still heavily reliant on coal for electricity generation. And so, its actions may help catalyse action in other emerging market economies as well," he said.