India needs to invest up to $7 tn for netzero

India may need to invest as much as $7 trillion to achieve its net zero carbon emission target by 2050, a task that seems more plausible by 2070, according to Rajat Verma, Founder & CEO of battery recycling firm LOHUM. As per Verma, the transition demands close to $300 billion of investment annually. This is a steep surge from the current $30-$40 billion that India annually spends on green ventures.

Highlighting the significance of metals like lithium and nickel, Rajat shed light on their increasing importance in the drive towards net zero. The need is not just for the use of these metals but for their circularity – ensuring that these resources are utilized in a sustainable and recyclable manner.

The company focuses heavily on the circularity of metals and has invested extensively in R&D to ensure efficient recycling. With metals such as lithium, nickel, cobalt, aluminum, and copper at the core of its operations, LOHUM said it is geared towards facilitating a sustainable transition.