Renewables ‘could stimulate economic growth while benefitting the environment’

ENERGY LIVE NEWS | A ‘green’ energy system could help achieve climate targets while boosting economic growth.

This is according to a recent report by the International Renewable Energy Agency (IRENA), that pushes for a renewables-based economy for short-term recovery and employment generation. While transitioning to a green economy will require a total investment of up to $130 trillion (£106tn), IRENA projects socio-economic gains of more than $98 trillion (£79.5tn) in the next 30 years. It also expected employment in the sector to generate 42 million jobs.

Director-General, Francesco La Camera, said: “Governments are facing a difficult task of bringing the health emergency under control while introducing major stimulus and recovery measures. The crisis has exposed deeply embedded vulnerabilities of the current system.

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