India needs an estimated $900 billion for a just energy transition vis-a-vis coal mines and thermal power plants over the next 30 years, a report of independent non-profit environmental research and innovation organisation International Forum for Environment, Sustainability & Technology (iFOREST) has said.
India has set goals of net zero emissions by 2070 and energy independence by 2047. iFOREST said a framework for the just transition at the national and state levels is essential for it.
iFOREST report released on Thursday said $600 billion of the estimated cost will have to come as investments in new industries and infrastructure and $300 billion for grants/subsidies to support the transition of the coal industry, workers, and communities.
