The crisis facing billionaire Gautam Adani has revealed a potential pitfall in India’s ambitious plan to reduce emissions: its reliance on the country’s most affluent and powerful private citizens.
Led by Adani’s $70 billion pledged investment in green energy infrastructure, India’s tycoons have so far committed to spend far more than the government on the energy transition. Reliance Industries Ltd.’s Mukesh Ambani and JSW Group’s Sajjan Jindal, along with energy giants like Tata Group, have also rushed to champion the shift to a cleaner future.
