Phase IFoundation
Background
Overview
India is a major energy consumer and producer, balancing energy security, economic growth, and climate commitments. Understanding global trends in fossil fuel policy, their climate implications, and the challenges of transitioning to cleaner energy is crucial for India's sustainable development strategy and international negotiations.
Fossil fuel subsidies refer to government actions that lower the price of fossil fuels for consumers or producers, or raise the revenues of fossil fuel companies. These policies often conflict with climate change mitigation efforts by incentivizing the production and consumption of high-emission energy sources, thereby hindering the global transition to sustainable energy systems.