12 Feb (NucNet): The successful transition towards a low-carbon economy in Europe could result in a 1.1% growth in GDP and 0.5% growth in employment between now and 2030, a report says.
Globally, China is also projected to benefit from a low-carbon transition, but the US would experience a 3.4% drop in GD, and a 1.6% decline in employment, according to the report.
This analysis is based on a global macro-economic model run by Cambridge Econometrics and Eurofound’s European Jobs Monitor.
The modelling shows that the full implementation of the 2015 Paris Agreement is positive for the EU as a whole, both in terms of GDP and employment growth. This is mainly attributable to the investment activity required to achieve such a transition, together with the impact of lower spending on the import of fossil fuels. The shift towards production of capital goods, such as equipment, machinery and buildings, will result in a notable increase in demand for construction and for labour from related occupations.
The landmark Paris Agreement, adopted by 195 nations in December 2015, included the aim of strengthening the global response to the threat of climate change by “holding the increase in the global average temperature to well below 2°C above preindustrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels”.
A recent report by the UN Intergovernmental Panel on Climate Change said urgent and unprecedented changes are needed to reach the target.
A number of options assessed in the report called for growth in the share of energy derived from low carbon-emitting sources including nuclear.
The report is online: https://bit.ly/2GEaeD6
