Doubling The Share Of Renewable Energy By 2030 Could Increase Global GDP By $1.3 Trillion

Federico Guerrini


Economic growth and environmental sustainability have often been seen as mutually exclusive. It seemed like countries could not really boost their GDP without sacrificing a bit of sustainability.

A recent report by the Abu Dabhi based International Renewable Energy Agency (IRENA), tells a different story. According to the research, doubling the current share of renewable energy in the global energy mix would increase global GDP by up to 1.1 per cent, roughly US$ 1.3 trillion, by 2030. And it would reach that goal while increasing, at the same time, global welfare and quality of life.

To better highlight the scale of the financial impact, researchers point out that the amount would be more than the combined economies of Chile, South Africa and Switzerland as of today.

“The recent Paris Agreement sent a strong signal for countries to move from negotiation to action and rapidly decarbonise the energy sector,” said Adnan Z. Amin, IRENA Director-General in a statement. “This analysis provides compelling evidence that achieving the needed energy transition would not only mitigate climate change, but also stimulate the economy, improve human welfare and boost employment worldwide.”...