To meet climate goals, invest more in renewable energy in poor states - South China Morning Post
Climate goals can’t be met without investing more in renewable energy in poor nations | South China Morning Post
A family works in a field near a wind turbine near Sadla village in Surendranagar district of Gujarat state, in India, on March 20. Most renewable energy investment is focused on rich economies and a small group of developing economies led by Brazil, Vietnam, Chile and India. Photo: AP
A family works in a field near a wind turbine near Sadla village in Surendranagar district of Gujarat state, in India, on March 20. Most renewable energy investment is focused on rich economies and a small group of developing economies led by Brazil, Vietnam, Chile and India. Photo: AP
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”