India could register a gap of $178 billion in revenue from fossil fuels by 2050 as the world moves towards cleaner energy to limit global warming to 1.5\u00b0C, a report by International Institute for Sustainable Development (IISD) said on Thursday.<\/p>\n
Under the 2015 Paris Agreement, countries have agreed to limit global warming to below 2\u00b0C, preferably to 1.5\u00b0C, compared to pre-industrial levels. Six emerging economies \u2014 Brazil, Russia, India, Indonesia, China and South Africa \u2014 need to start changing their fiscal policies to account for declining fossil fuel use or risk a $278 billion gap in revenues by 2030, the report titled \u2018Boom and Bust: The Fiscal Implications of Fossil Fuel Phase-Out in Six Large Emerging Economies\u2019 said.<\/p>\n
These countries represent 45% of both the world\u2019s population and its carbon dioxide (CO2) emissions, 25% of global gross domestic product (GDP), and a significant share of the world\u2019s poor. They are particularly vulnerable to the fiscal impacts of the energy transition because of their high reliance on fossil fuel revenues, the study said.<\/p>\n","protected":false},"excerpt":{"rendered":"
India could register a gap of $178 billion in revenue from fossil fuels by 2050 as the world moves towards cleaner energy to limit global warming to 1.5\u00b0C, a report by International Institute for Sustainable Development (IISD) said on Thursday. Under the 2015 Paris Agreement, countries have agreed to limit global warming to below 2\u00b0C, preferably to 1.5\u00b0C, compared to pre-industrial levels. Six emerging economies \u2014 Brazil, Russia, India, Indonesia, China and South Africa \u2014 need to start changing their fiscal policies to account for declining fossil fuel use or risk a $278 billion gap in revenues by 2030, the […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,183],"tags":[],"class_list":["post-504250","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=504250"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504250\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=504250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=504250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=504250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}