Research paper claims renewable energies and energy efficiency can maintain economic growth and provide a sufficient supply of energy.
More job opportunities can be created through investment in clean energies than through fossil fuels, according to a new report.
Research by The United Nations Industrial Development Organisation (UNIDO) and the Global Green Growth Institute (GGGI) outlines how a commitment of 1.5 per cent of GDP per year to renewable energy and energy efficiency investment will deliver economic growth, a sufficient supply of energy resourcesr and a new source of job opportunities.
Yvo de Boer, director-general of GGGI and former head of the UN’s climate change secretariat, stated that the report helps in countering claims that cutting greenhouse gases is incompatible with economic growth.
“Significant progress has already been made in overcoming the hitherto conventional wisdom that taking steps to cut GHGs was incompatible with economic growth,” he said. “This report moves the debate another positive step forward by showing that employment and development result from sustainable, green growth.”
The international organisations explored the impacts of the large-scale clean energy plans in five countries including emerging economic powers Brazil and South Africa where, for every $1m invested in clean energy, 16.2 and 33.1 jobs would be created respectively.
The report, which also looked at clean tech policies and investment in Germany, Indonesia, and South Korea, calculates the level of job creation from green projects is higher than would be the case for maintaining or extending fossil fuel investment.
Li Yong, director general of UNIDO, said in a statement that all countries can benefit from delivering on the proposed 1.5 per cent GDP investment commitment.
“The results of the five countries presented in this report show clearly that green growth investments are not only viable or beneficial for the most highly industrialised countries,” he said. “On the contrary, all countries, be they developed or developing, can derive significant benefits from investments in clean and renewable energy.”
The document echoes an Anglia Ruskin University report – commissioned by Green Party MEP Molly Scott Cato – which last week argued for a programme of quantitative easing to stimulate the green economy.
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