LOWERING CARBON emissions is serious business. Serious enough to draw financing of $94.8 trillion over the next 38 years to meet the climate goals of just eight emerging economies—China, India, Indonesia, Kenya, South Africa, the UAE, Nigeria and South Africa—says a report by Standard Chartered. Of this, China needs $35.1 trillion, while India’s requirement is pegged at $12.4 trillion till 2060. However, an independent study by the CEEW Centre for Energy Finance estimated that India will need investments of $10.1 trillion by 2070, says Divya Datt, a Programme Management Officer at the India Office of the UN Environment Programme. “Of this, $8.4 trillion is required to scale up power generation, integration, distribution and transmission infrastructure. Another $1.5 trillion is required for green hydrogen production capacity.” While different reports point to…