IISD Report: If India moves towards keeping global warming low, there will be a big loss in income from fossil fuels.
India will face cuts in revenue from fossil fuels in its efforts to limit global warming to 1.5°C.
But, if timely work is done in this matter in a planned manner, then the shortfall in revenue can be reduced to a great extent. This has been said in the latest report of IISD (International Institute for Sustainable Development).
The IISD report said that in 2019, India generated revenue of USD 92.9 billion from fossil fuel production and consumption, which was 18 per cent of the country’s total government revenue.
Independent think-tank IISD has said in its report that if India moves towards its goal of limiting global warming to 1.5 degree Celsius, by 2050, revenue from fossil fuels will fall by about 65 percent compared to 2019. Will come
Let us tell you that under the 2015 Paris Agreement, many countries of the world cut the use of fossil fuels to achieve the goal of keeping the global average temperature below 2 ° C and controlling the increasing global warming to 1.5 ° C. Was told to do India was also one of the countries that entered into the agreement.
Significantly, the population of only six countries of the world, India, Russia, Brazil, Indonesia, China and South Africa, and the carbon emissions of these countries account for 45 percent of the world’s population and carbon dioxide emissions. These countries account for 25 percent of the global GDP. A large part of the people living in poverty all over the world are also in these countries.
The report said that these countries will be most affected by the loss of income from fossil fuel revenue due to excessive dependence on fossil fuels.
