Climate Change Activities Can Accelerate Global Economy, Economist Says

emeriobanque (33)in #tradefinance • 3 years ago

According to the latest reports, accelerating investments in policies and technologies to handle climate change can have a vital role in the recovery of the global economy from the Covid-19.

In the latest note, Charles Dumas, chief economist at U.K.-based investment research firm TS Lombard explained that activity on environmental change is frequently scrutinized as moving too leisurely. However, since the government is spending to support post-pandemic economies, there may be possibilities for improvements.

A critical principle of this is the always diminishing costs of electricity per megawatt hour, as per the figures from TS Lombard, with expenses of solar, offshore & onshore wind dropping for the last 10 years, while gas and coal have remained generally something similar.

As per Dumas, “Adequately by 2030, the expenses of renewable electricity is expected to be half that of coal and gas sourced power.”

These advancements are going to bring various promises to arrive at net zero more intently.

The deadly floods in Germany in recent weeks have contributed to bringing back the impacts of the pandemic dynamically in the highlight again but they are only the recent in the series of destructive utmost weather situations of late, including the lying down wildfires in Oregon.

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