‘Transition to cleaner energy mix will bring economic opportunities’
This was according to the UN’s World Economic Situation and Prospects 2020 report, released yesterday, ahead of the World Economic Forum annual meeting next week.
UN chief economist and assistant secretary-general for economic development, Elliott Harris, said: “This not only leaves many investors and governments exposed to sudden losses, but also poses substantial setbacks to environmental targets. Any delay in decisive action towards energy transition could double the eventual costs.
“The transition to a cleaner energy mix will bring not only environmental and health benefits, but economic opportunities,” he said.
Countering an argument frequently cited by the South African government: that its developmental status requires it invest in “cheaper” coal power, Harris said if per capita emissions in developing countries were to rise towards those in developed economies, global carbon emissions would rise more than 250percent – compared to the global goal of reaching net zero emissions by 2050.
Source: iol.co.za
