A switch from subsidizing fossil fuel to pricing CO2-emissions would not only help to meet global climate targets but also create additional domestic public revenues. These revenues could finance expenses towards sustainable development, improving health-care, education and infrastructure for energy, transportation or clean water. India could cover more than 90 percent of its needs to finance progress towards these sustainability goals. This could also be an attractive option for countries like Nigeria, Burundi and Senegal.
Flipping the switch: Making use of carbon price dollars for health and education
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