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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 Read the Entire Article
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Foundation: Heinz Endowments, Richard King Mellon Foundation
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Spotlight
Role Philanthropy Plays in Impact Investing
CEO of the Community Development Financial Institution (CDFI) Nonprofit Finance Fund and impact investment book author, Antony Bugg-Levine, explains the role of how philanthropy serves as a catalyst in impact investments.
