Uncounted costs of energy transitions to reduce carbon emissions

States with the most to lose from the rise of RE power are yet to start preparing their economies and people for the shift

Subhomoy Bhattacharje New Delhi
Photo: Bloomberg

Photo: Bloomberg

Last week, speaking in Gandhinagar at the first meeting of the B20 (Business 20), which brings together corporate leaders within the G20 framework, Sanjiv Puri, chairman and managing director of ITC, said, “It is important as we traverse this complex journey of energy transition that the process is inclusive. No country, no community, no enterprise should be excluded in the process. Otherwise, the whole challenge of social inequality will only get accentuated.”
The concerns that Puri raised are pervasive within industry. Speaking at the same forum, T V Narendran, Tata Steel CEO and managing director, made the concerns more specific. “There are millions of people who are working in the coal or the fossil fuel ecosystem,” he said. “How do you, as you transition into renewable energies, rescale those workers or how do you make sure that you deal with the socioeconomic consequences of the changes that we are bringing about?”

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First Published: Jan 31 2023 | 6:12 PM IST

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