Wealthy economies must help with financing India’s energy transition, Bloomberg reported this week, citing the country’s Environment Secretary. “Every policy decision has a cost to the economy. Going net-zero or using less carbon also has a cost,” Rameshwar Prasad Gupta said in an interview. “We are not anti-net-zero. But without adequate climate finance being definitively available, we can’t commit on that part.” The official’s comments add to worries about the cost of the energy transition, especially for poorer economies. Last week, Reuters reported that these worries are spiking in Europe, where poorer Eastern European members of the EU will have a hard time giving up fossil fuels. The EU plans to penalize noncompliers with higher carbon emission prices, which are likely to be passed on to end-consumers. India’s situation is even more complex. The country is the world’s third-biggest emitter of carbon dioxide, but shifting away from fossil fuels […]