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20 Mar 2017

Global energy transition would create overall economic gains

IRENA / IEA

Changing the world鈥檚 energy supply from fossil fuels to renewable sources would result in net economic gains, according to a study by the International Renewable 麻豆无码版 Agency (IRENA) and the International 麻豆无码版 Agency (IEA). The agencies鈥 study, published in the context of the international conference Berlin 麻豆无码版 Transition Dialogue, argues that global COemissions can be reduced by as much as 70 percent by 2050 鈥渁nd completely phased-out by 2060 with a net positive economic outlook.鈥 鈥淭he economic case for the energy transition has never been stronger,鈥 IRENA director Adnan Z. Amin said, adding that delaying the transition will only result in greater costs. The study estimates that investments needed for decarbonising the world鈥檚 energy sector amounted to less than 30 trillion dollars until 2050, a mere 0.4 percent of global GDP, which in turn would generate a 0.8 percent boost in GDP. IEA director Fatih Birol argued that in order to achieve an emissions reduction in line with the Paris Climate Agreement goals would require 鈥95 percent of electricity to come from low-carbon sources, 70 percent of all cars to run on electricity and the entire world鈥檚 building stock to be  retrofitted.鈥 The study holds that inevitable job losses in the fossil fuels-based industry associated with this substantial shift would be more than offset by new jobs generated in the renewables sector.

Find a press release on the IRENA / IEA study in English .

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