: As India transitions to green energy, it must map financial challenges in coal mining regions #IndiaNEWS Every year in October, cash registers ring in shops dotting east India’s mining hubs during

As India transitions to green energy, it must map financial challenges in coal mining regions #IndiaNEWS
Every year in October, cash registers ring in shops dotting east India’s mining hubs during the Hindu festival season of Dussehra, when the country’s biggest coal company, Coal India Ltd, hands its workers a bonus.Researchers and unions are calling for this coal cash – which fuels spending in homes and local economies – and the revenue local governments earn from coal mining firms to be mapped as a first step towards planning for a post-coal economy.India is aiming to more than triple its renewable energy capacity by 2030 – but state support for renewables projects is still a fraction of that for fossil fuels, as coal production is also being ramped up to meet rising energy demand.Researchers are calling for a large increase in spending on renewable energy to help ensure that coal mining communities do not lose out as India shifts to a more climate-friendly economy.“India needs to go back to the drawing board to map its financial challenges as it transitions to green,�? Prateek Aggarwal, programme associate with the Council on Energy, Environment and Water, told the Thomson Reuters Foundation.“In coal-dependent economies, a majority of the expenditure depends on coal revenue,�? said Aggarwal. “And these states need to diversify – for where will they get...Read more

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