As governments around the world build up stimulus packages to make jobs and reflate their economies, two things are clear:
1) we should always invest in things that strengthen the health and well-being of our citizens;
2) We must check out reducing economic and infrastructure vulnerability.
Old, outdated and polluting industries isn’t an answer. Now quite ever, it’s vital that countries put renewable energy and other low-carbon technologies at the fore to create back better after COVID-19, creating new jobs and rebooting their economies.
Here are Four reasons why stimulus packages must include renewable energy investments:
The global renewable energy industry reached $476.3 billion in 2014 and is predicted to grow at a ten .3% compound annual rate of growth to $777.6 billion by 2019, consistent with BCC Research. With many sorts of renewable energy becoming economically viable, consumers have begun to accept these technologies amid growing concerns over carbon emissions. Investors are reconsidering this as a great opportunity as reliance on government subsidies dwindles.
Our search for alternative and clean energies is quickly becoming apparent. While carbon levels keep increasing in the economic revolution, it has now reached extremely threatening 400 parts per million (ppm) reading reached it. In December 2015, representatives from 195 countries at the 21st Conference of the Parties of the UNFCCC in Paris adopted the Paris Agreement to affect greenhouse emission emissions, adaptation, and finance starting within the year 2020. Now Indian is encouraging various startup, companies and SMEs to come up with new technology to meet these regulations and deadlines.
Investors have many options beyond equities when it involves investing in energy projects, including a growing array of unpolluted energy bonds. In some cases, these bonds are issued by companies looking to finish energy projects through municipalities or other sources. In other cases, these bonds are issued by energy consulting firms looking to cost-effectively raise capital to finance projects.
The International Renewable Energy Agency (IRENA) predicts the socioeconomic impact of several scenarios. The “Transforming Energy Scenario” —realistic energy impending future that might limit global temperature rise to well below 2 degrees C to cost $19 trillion but will bring benefits worth $50-142 trillion by 2050, growing the world’s GDP by 2.4%. this is often not only about renewable energy investment; it’s also an investment that mitigates the financial and other risks of global climate change.