Coal India Limited, may have to cut 73,800 of its jobs by 2050 as India moves towards green energy in order to cap global temperatures to 1.5 degree celsius. This data came out in a report by the US-based think tank Global Energy Monitor (GEM) on 10 October.
According to the report, the move towards renewable energy is expected to result in the loss of more than 10 lakh jobs worldwide by 2050. The calculations are based on the climate change commitments made by countries.
The coal industry in China, which employs more than 15 lakh people, is likely to be hit the hardest, with an estimated 2,41,900 layoffs expected by the middle of the century.
India will also be affected, with Coal India facing the most potential job losses of 73,800 direct workers by 2050.
The International Labour Organisation (ILO) has coined the term 'just transition' to describe the process of transitioning to a greener economy in a way that is fair and inclusive, creating decent work opportunities and leaving no one behind.
India, the world's second-largest coal producer, has a workforce of roughly half the size of China's Shanxi province. Although Coal India officially employs around 3,37,400 miners at its operating mines, some studies suggest that the local mining sector has four 'informal' employees for every direct employee.
The GEM report highlights the need for government involvement in coal worker transition planning.
The study conducted by GEM found that almost 5 lakh workers, amounting to 4,14,200, work in mines that could cease operations before 2035.
The research included 4,300 active and planned coal mine projects worldwide, involving a total of 27 lakh employees.
During the 2021 UN climate conference held in Glasgow, the attendees reached an agreement to scale down coal power and phase out 'inefficient' subsidies for fossil fuels, which was never explicitly addressed in previous UN climate talks.