Action Needed For A New Energy Recovery

Global leaders must act fast to ensure a green recovery

`Ben Blackwell, 13 July 2020 (World Economic Forum)

“…[There is broad consensus that renewable energy can help] to stimulate economic recovery in the wake of the COVID-19 pandemic…But governments so far have been slow to introduce concrete measures to promote a green recovery, and the measures that have been taken vary wildly by region and country. Failure to act promptly risks missing this opportunity…[S]ustainable recovery packages agreed from now until the end of the year will determine the degree of economic and carbon rebound for the next three years…A concerted approach has begun…[The planned €750 billion ($846 billion) EU economic recovery package includes] green recovery. But even this falls short…

click to enlarge

Demand for oil, gas, coal and nuclear energy will fall off a cliff in 2020, while demand for renewables will increase modestly. It’s vital that governments promote investment in sectors that can and should continue to grow, or we risk creating a negative ripple effect in the energy sector…[A] sustainable recovery could boost global GDP by 3.5% in 2023 above usual levels…Polls show that globally, 71% of people believe that the climate crisis is as serious as the pandemic, and a majority in every country want a green economic recovery…” click here for more

click to enlarge

Tweet