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As the world shifts away from fossil fuels, workers in coal-mining states in India are bracing for job losses, Bloomberg reports.
According to a report from the Center for Policy Research, Jharkhand, Chhattisgarh, Madhya Pradesh, Odisha, and West Bengalthe five most-populated states in Indiause 85% of the country's solid fossil fuel production, including coal, natural gas, and oil.
And those states are some of the hardest-hit by the shift away from fossil fuels, Bloomberg reports.
According to a report from the Center for Policy Research, Jharkhand alone could lose nearly $9.2 billion per year in revenue if coal mining and electricity production cease, Bloomberg reports.
And that's not just for the miners.
According to a report from the Center for Policy Research, public-sector companies that generate electricity using fossil fuels "may have limited avenues aside from diversification away from their core businesses."
And while renewable energy is expected to play a bigger role in India's economy in the future, coal mining is expected to continue to be a major source of energy for years to come.
India has set a goal of getting 50% of its energy from renewable sources by 2030, but coal consumption is expected to continue its upward trend for the next few years, according
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Social Entrepreneurship
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5 Steps to Social Innovation
While philanthropy, social responsibility and corporate governance all already play a role, we will probably see more powerful contributions when companies embed social innovation into their core business strategies and operations.
