India will have to bear steep cut in fossil fuel revenues to limit global warming to 1.5 deg C: Report Posted on July 7, 2022 by cngpump In the 2015 Paris Agreement, countries agreed to hold “the increase in the global average temperature to well below 2 degrees Celsius… and to pursue efforts to limit the temperature increase to 1.5 degree Celsius”. Related posts: Investors pressure TotalEnergies to align with Paris climate deal Gas must exit global power system by 2040: Report Climate talks test global resolve on warming IEA fears global crude oil supply ‘shock’ over Russia sanctions Explained: Why Centre has announced steep excise duty cut on petrol, diesel Why states can still cut Rs 2 on diesel and Rs 3 on petrol without impacting their VAT revenue Oil could hit $380 if Russia slashes output over price cap, J.P.Morgan says India’s fuel sales rise above pre-COVID levels Reliance, ONGC’s credit quality can bear windfall tax, says Moody’s Energy executives at transition conference still lean on fossil fuels