New Energy Can Wake The Global Economy

Davos 2023: Energy transition is a way out of gloomy global outlook

Mihajlo Vujasin, January 21, 2023 (Balkan Green Energy News)

“Clean technologies, renewable energy sources, and industry decarbonization should be the response to the current global crisis, said participants in the annual meeting of the World Economic Forum 2023 in Davos…[The WEF’s Global Risk Report found that] the main risks and threats to the future of humanity come from climate change and a looming environmental collapse…in the age of polycrisis, which will mark the next decade…[O]ver 70% of worldwide CEOs think global economic growth will decline in 2023…

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…[In WEF’s 12 years of surveys,] this is the most pessimistic outlook…War, inflation, the energy crisis, and a possible recession are the grim context…[But clean technologies, decarbonization of the economy, and renewable energy sources,] unlike fossil fuels, could become a guarantor of peace and catalyst of international cooperation…The global energy sector is set to transform in the coming decades from a predominantly fossil fuel-based sector to one increasingly dominated by renewables and other clean energy technologies…

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…[Many global leaders agreed investment and fulfillment of policy commitments are] needed to give the world any chance of achieving the goals of the Paris Agreement…For most countries, it is unrealistic to compete across all parts of the clean energy technology supply chains. They will need to identify their strengths and build on them, be it a mineral resource, low-cost clean energy supply, or workforce development with relevant skills…[and] since no country will be in a position to do everything at once, collaboration should be a key element of countries’ industrial strategies…" click here for more

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