Cost of India quitting coal is $900 billion, think tank says
If India stopped burning coal tomorrow, over five million people would lose their jobs. But for a price tag of around $900 billion over the next 30 years, the country can make sure nobody is left behind in the huge move to clean energy to curb human-caused climate change, according to figures released by New Delhi-based think tank Thursday.
The International Forum for Environment, Sustainability and Technology, known by the acronym iFOREST, released two reports detailing how much it will cost for India to move away from coal and other dirty fuels without jeopardizing the livelihoods of millions who still are employed in coal mines and thermal power plants.
Ensuring that everyone can come along in the clean energy shift that's needed to stop the worst harms of climate change and guaranteeing new work opportunities for those in fossil fuel industries, known as a just transition, has been a major consideration for climate and energy analysts.
“Just transition should be viewed as an opportunity for India to support green growth in the country’s fossil fuel dependent states and districts,” said iFOREST head Chandra Bhushan.
To get the $900 billion figure, the group researched four coal districts in India and identified eight different cost factors, like setting up infrastructure and getting workers ready for the transition.
Read more at: https://economictimes.indiatimes.com/industry/renewables/cost-of-india-quitting-coal-is-900-billion-think-tank-says/articleshow/98950518.cms