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The mean cost of cost of climatechange for the four countries—Indonesia, Philippines, Thailand, and Viet Nam—under a “business-as-usual” scenario and if market and non-market impacts and catastrophic risks are all considered could be equivalent to losing 6.7%
This would require: Putting in place ambitious low-carbon policies now; Reinforcing positive behavioral changes caused by the pandemic; and. Gearing stimuluspackages towards decarbonization. However, transport CO 2 emissions could be cut by almost 70% over the 2015-50 period with the right policies, the ITF said.
Despite relatively aggressive government policies aimed at reducing oil demand, such as within green stimuluspackages enacted in several countries during the pandemic, global oil demand may not peak before 2030.
The report’s authors, Max von Bismarck and Anuradha Gurung from the World Economic Forum, and Chris Greenwood and Michael Liebreich from New Energy Finance, argue that “ enormous investment in energy infrastructure is required to address the twin threats of energy insecurity and climatechange.
Green Car Congress attended the Renewable Energy Finance Forum - Wall Street (REFF-Wall Street) conference (23-24 June) sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). Climatechange projects had always had a stronger appeal to international investors than US investors. by Bill Cooke.
It recommends that these should be a central part of the recovery packages of the G7 countries, which together should increase their annual investment by 2% of GDP, or $1 trillion, compared to pre-pandemic levels. The report highlights the potential for investments in zero-emissions energy and transport to create new jobs and economic growth.
The economic stimuluspackage currently before Congress could include incentives for both buyers of electric vehicles and electric vehicle battery manufacturers. Energy security, the politics and marketing of oil and concerns about climatechange are creating an unprecedented global push toward electric vehicles.
During the Global Financial Crisis in 2008/9, the COVID19 pandemic, and now the Ukrainian War, economic stimuluspackages were meant to put the world on a cleaner and greener path, but this is not at all evident in the CO 2 emissions data.
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