How will decarbonisation impact fossil fuel export dependent economies?

Based on estimates of fossil fuel rents, this paper identifies 40 highly fossil fuel dependent countries that on average have generated rents (from oil, coal and gas) worth more than three percent of GDP annually from 2015 to 2019. Some of these countries – Mongolia, Malaysia for example – produce more than 50 percent of their fossil fuel rents from coal. It is estimated that the group of 40 will lose more than 60 percent or between US$12-14 trillion in fossil fuel income alone during the period 2023-2040. How will these countries cope with the decline or loss of this […]