India is calling on developed countries to follow its lead and raise taxes on coal production, to help raise the US$100 billion per year that will be needed to fund climate adaptation and mitigation in developing countries.
Although India expects to double its coal production by 2020, it recently increased its coal mining tax from $1 to $6 per tonne. “If they follow India and levy a tax of $5 to $6 a tonne on coal production, $100 billion can easily be mobilized,” said Environment Minister Prakash Javadekar. “Today, only $10 billion is available on the table. Even a country like America is promising only $3 billion.”
That means richer nations are “failing to stick to their part of the bargain” in the global response to climate change, “while asking countries such as India to do more,” Reuters reports. (h/t to Clean Energy Review for pointing us to this story)