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Four Challenges for Fossil Fuel Producing Countries in the Low Carbon Transition

President Biden’s announced target to achieve a 50 percent reduction in greenhouse gas emissions within a decade is a tremendous boon to the Paris Climate Agreement goals. Without diminishing the positives of this reset of US policy, it is still important to remember that, with any seismic shift, there will be winners and losers. Recent research has discussed the emerging challenge of fossil fuel producing countries, which risk losing entire swathes of their economies’ production capacities, and thus their wealth.