Currently, there are about 13,000 renewable energy projects ready to finance worldwide. A recent EY-Parthenon study suggests that with about $2 trillion investment, all of these projects will become a reality. Plus, this will create 10 million jobs.
The European Climate Foundation commissioned EY-Parthenon, a global strategy consulting firm, to identify investment opportunities in the renewable energy sector.
The EY-Parthenon research team identified 13,000 global renewable energy projects spread across 47 well-known economies — in the Americas, Europe, Asia, Oceania, and Africa.
According to the EY-Parthenon study, this could be a viable COVID-19 financial recovery plan that would also reduce 2.5 gigatons of greenhouse gas emissions.
Deployment of good-to-go projects would reduce greenhouse gas emissions by 2.5 giga tonnes of CO2 equivalent (GtCO2e) annually, helping to close 9% of the global emissions reduction target for 2030 set out by the Intergovernmental Panel on Climate Change (IPCC) to limit global warming below 1.5°C.
Serge Colle, EY Global Energy & Resources Industry Market Leader
The study argues that the initiative will not only create high-skill jobs for STEM graduates but also create opportunities for lower-skilled jobs through construction, manufacturing, and installation.
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