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The UN and Green Energy Investment – The Dramatic Move Toward a Green Economy
A dramatic step toward green energy investment is evident in the new report issued by the United Nations. The UN is serious about creating a green economy and has launched a global transition by cutting subsidies for resources that are unsustainable, as well as a $1.3 trillion investment (2 percent of the global GDP) into a green economy. According to the report, investing this amount of money, as well as implementing policies that look to the future nationally and internationally, would make the rate of growth of the global economy similar to, if not faster than, its current rate.
As it currently stands, without green energy investment, those same 2 percent of the global GDP are spent on various subsidies that support the use of resources that are unsustainable. These include fossil fuels, unsustainable agricultural practices like pesticide use, and practices contributing to water pollution. Of course, many of these practices exacerbate the damage to the environment, as well as inefficiencies in the world economy, so cutting down on these subsidies would create a variety of benefits and resources to finance the transition to a green economy. The ecological footprint is projected to be reduced by some 50 percent and per capita incomes of the population are set to rise.
According to UNEP – the United Nations Environment Program – and its figures, the global green energy investment is already projected to reach some $240 billion this year. These figures also confirm that India, China, and Brazil are investing more and more into the green economy. The global green energy investment has increased by about 20 percent from last year’s figures of $180-$200 billion.
The EU is also a key player in creating a more green world economy. The EU shares many priorities with UNEP, such as environment and development, climate change, and sustainable energy. Other key priorities include sustainable production and consumption, sustainable management of natural resources, and, of course, a green economy. The EU and UNEP will specifically work together on a project with a multimillion-euro investment, which will help restore Kenya’s Mau forest’s north-western district, with the help of the government of Kenya.
Among other priorities of the UNEP summit, a report was released by scientists focusing on how important it is to reduce soot and methane emissions. According to the report, this is one of the most efficient manners in which to combat climate change. The Integrated Assessment of Black Carbon and Ozone Report, as it is titled, claims that taking this measure and targeting greenhouse gases that are short-lived (like methane, black carbon, and ozone) could help reduce the effects of global warming by 2030 by some 0.5°C. This would avoid tipping points in the climate, which scientists claim would happen if the current temperatures increase more than 2°C.
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The information supplied in this article is not to be considered as medical advice and is for educational purposes only.