India should commit to carbon neutrality by ending fossil fuel subsidies and investing in clean solar power as it mobilizes trillion of dollars to recover from the coronavirus pandemic, the U.N. chief says.
FILE- In this June 4, 2011 file photo, Indian laborers carry firewood, as smoke rises from a bricks factory on the outskirts of Jammu, India. India should commit to carbon neutrality by ending fossil fuel subsidies and investing in clean solar power as it mobilizes trillion of dollars to recover from the coronavirus pandemic, the U.N. Secretary-General António Guterres said Friday, Aug. 28, 2020.
India's subsidies for fossil fuels are some seven times bigger than its subsidies for clean energy. Coal subsidies in the 2019-20 financial year amounted to $2.06 billion, with overall subsides to fossil fuels at $11 billion. Investments in renewable energy generate triple the number of jobs created by investments in more polluting fossil fuels, he said.
Apart from issues of job creation and concerns about pollution and climate change, coal power plants are likely to become “stranded assets,” he noted.Dr. Anjal Prakash, Research Director of the Bharti Institute of Public Policy and an Intergovernmental Panel on Climate Change author, said India would take some time to reduce its dependence on coal.
``India should prepare for the transition and make sure the poor do not suffer, particularly by working toward new livelihoods and jobs in coal mining states,” Dubash said.
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