As indicated by a new research, transition toward renewable energy would greatly be a blessing to the economy — and it would generate more jobs.
The report, from NextGen Climate America, indicated that investment in efficiency, renewable sources of electricity, and fuel transition — such as shifting from fossil fuel-powered cars to electric vehicles — would add a million employments by 2030, and abruptly 2 million jobs by 2050, while GDP grows by $290 billion and upgrading household income. The researchers examined scenarios that would cut carbon emissions by 80% below 1990 levels.
“While addressing climate change is one of our greatest challenges, it is one of our greatest opportunities to build the economy,” stated Tom Steyer, NextGen co-founder, billionaire climate activist, and Center for American Progress board member, on a call with reporters Monday.
Specially, the construction sector could see a great bounce in jobs — amounting to 1.2 million more in 2050 than under the ‘business-as-usual scenario’. This is because it will involve a lot of people to construct the wind farms, install solar PVs, and retrofit the buildings needed to limit dependence on fossil fuels.