Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

IRENA: Doubling Today's Share of Renewables Would Boost Global GDP by $1.3 Trillion

Business
IRENA: Doubling Today's Share of Renewables Would Boost Global GDP by $1.3 Trillion

While investors and global leaders crunch numbers this week to stabilize the global economy, experts are offering hard-hitting numbers linking renewables to a prosperous future.

Just a few days ahead of the World Economic Forum in Davos, Switzerland, the International Renewable Energy Agency revealed that if the world doubled its current market share of renewable energy to 36 percent by 2030, global GDP could experience a boost of up to 1.1 percent.

The findings come as new figures show investments in renewables hit a new high last year with China and the U.S. topping the table. Photo credit: Ed Suomine / Creative Commons

This figure would represent the equivalent of $1.3 trillion in growth—more than the combined economies of Chile, South Africa and Switzerland—and would put the “Paris climate goals within reach."

The findings come as new figures show renewables investments hit a new high last year with China and the U.S. topping the table.

Yet other regions are falling behind and could risk missing out: former clean energy leader Europe saw renewable investment fall to an eight-year low; and Australia is still turning a blind eye to the millions of potential jobs created and hundreds of billions of fossil fuel import dollars saved through renewables.

Despite efforts to stagnate the ongoing transition towards a renewables-only future, upcoming Davos meetings could act as a turning point for world leaders, setting apart those who are ahead of the curve and those who aren't.

Key Points

  • Fossils are falling, but not fast enough. During last month's Paris climate meetings, world leaders agreed to widen the way for a clean, safe future. While the momentum encapsulated in the Paris Agreement is in the process of “implementation and action," replacing fossil fuels with renewables swiftly will allow the world to benefit from an energy transformation that protects millions of lives, creates new jobs, saves billions of dollars and tackles energy poverty.

YOU MIGHT ALSO LIKE

62 Richest People on Earth Own the Same Wealth as Half the World's Population

12 Experts Comment: What Oil Below $30 Means for Efforts to Tackle Climate Change

Half of U.S. Fracking Industry Could Go Bankrupt as Oil Prices Continue to Fall

Renewables Saw More Money Invested and More Capacity Added in 2015 Than Ever Before

Eating lots of fruits and vegetables will boost the immune system. Stevens Fremont / The Image Bank / Getty Images

By Grayson Jaggers

The connection between the pandemic and our dietary habits is undeniable. The stress of isolation coupled with a struggling economy has caused many of us to seek comfort with our old friends: Big Mac, Tom Collins, Ben and Jerry. But overindulging in this kind of food and drink might not just be affecting your waistline, but could potentially put you at greater risk of illness by hindering your immune system.

Read More Show Less

EcoWatch Daily Newsletter

A graphic shows how Rhoel Dinglasan's smartphone-based saliva test works. University of Florida

As the world continues to navigate the line between reopening and maintaining safety protocols to slow the spread of the coronavirus, rapid and accurate diagnostic screening remains critical to control the outbreak. New mobile-phone-based, self-administered COVID-19 tests being developed independently around the world could be a key breakthrough in making testing more widely available, especially in developing nations.

Read More Show Less

Trending

A meteorologist monitors weather in NOAA's Center for Weather and Climate Prediction on July 2, 2013 in Riverdale, Maryland. Mark Wilson / Getty Images

The Trump White House is now set to appoint two climate deniers to the National Oceanic and Atmospheric Administration (NOAA) in one month.

Read More Show Less
A plastic bag caught in a tree in New Jersey's Palisades Park. James Leynse / Stone / Getty Images

New Jersey is one step closer to passing what environmental advocates say is the strongest anti-plastic legislation in the nation.

Read More Show Less

Did you know that nearly 30% of adults do, or will, suffer from a sleep condition at some point in their life? Anyone who has experienced disruptions in their sleep is familiar with the havoc that it can wreak on your body and mind. Lack of sleep, for one, can lead to anxiety and lethargy in the short-term. In the long-term, sleep deprivation can lead to obesity, diabetes, and cardiovascular disease.

Fortunately, there are proven natural supplements that can reduce insomnia and improve quality sleep for the better. CBD oil, in particular, has been scientifically proven to promote relaxing and fulfilling sleep. Best of all, CBD is non-addictive, widely available, and affordable for just about everyone to enjoy. For these very reasons, we have put together a comprehensive guide on the best CBD oil for sleep. Our goal is to provide objective, transparent information about CBD products so you are an informed buyer.

Read More Show Less

Support Ecowatch