Ending climate change could boost global economy by trillions

Download PDF Print this article E-mail
As well as keeping the planet habitable, slowing or stopping climate change could boost the global economy by $19 trillion, the Independent recently reported.
According to the International Renewable Energy Agency's (IRENA) report produced for the German government, investments in energy efficiency and renewable power will add approximately 0.8% to global gross domestic product (GDP) by the year 2050.
In line with the landmark Paris Agreement, governments throughout the world are striving to keep global warming within 2 degrees Celcius (3.6 Fahrenheit) of pre-industrial conditions, by committing more resources to green energy.
As Germany prepares to host the G-20 Sustainability Working Group, it commissioned the report – 'Energy Transition: Investment Needs for a Low-Carbon Energy Transition' – to prepare for the energy and climate talks due to take place over the coming months.
Abu-Dhabi-based IRENA produced the report, in collaboration with the International Energy Agency. According to the findings, the share of renewable energy must increase to 65% of the primary energy supply by 2050 – compared with the 15% recorded in 2015.
While this so-called "sweeping transformation" of the energy sector could force fossil fuel companies to abandon $10 trillion of assets such as coal, oil and gas, Irena forecasts that the investment in renewables and energy efficiency combined would "more than offset" these losses.
In addition to this, decarbonising the energy sector would create around six million jobs, not to mention improving human welfare through key environmental and health benefits thanks to reduced air pollution.
Commenting on the report, IRENA Director-General, Adnan Z. Amin, noted that "the economic case for the energy transition has never been stronger."
"We are in a good position to transform the global energy system," he added, "but success will depend on urgent action, as delays will raise the costs of decarbonisation."
Get in touch with us NOW to enquire how your firm could benefit out of the deployment AVReporter Energy Management Software, a tool making processes transparent. 
Climate change



  • VEOLIA- Energy Management Solution for utilitiesVeolia is one of the market leader companies in Hungary in the energy, water and waste management industry. The group company employs approximately 2,500 people who provide professional services to various towns, institutions and industrial companies enabling them to efficient manage resources, while the water utility and district heating branches of the company supply drinking water to hundreds of thousands of families, and heat to tens of thousands of households. With its more than 20-year professional experience Veolia is a determining participant of the Hungarian energy market. The energy branch of the company group provides energy to various institutions of 50 local municipalities, 85 state-owned and public buildings, 30 health institutions and 31 industrial plants, while its district heating networks supply 67,000 residential and institutional customers nationwide. In the three power plants of the company operate high-efficiency natural gas blocks and blocks utilizing renewable energy (biomass).
  • Meet us at the Utility Week in BarcelonaThe European Utility Week aims to be a serious information platform connecting the smart utility community, focusing on regional and global developments in Grid Optimisation, Renewables, Energy Storage, Smart Metering, Smart Cities, Smart Homes, Energy Services & Efficiency, Intelligent Buildings, Data Management, Analytics and IoT, Cyber Security, Smart Gas and Smart Water.  The event serves as an annual meeting point for the community and will be attended by 12.000 international visitors, 450 speakers and 600 exhibitors. 
  • Remote Desktop ServiceAs part of our sales support options, remote desktop service is high on demand.
  • AVReporter Windows Phone & IPhone Mobile Client (Remote Meter Reading)With the support of this application the measurement data (identifying meters manually or by QR code) can be entered and sent via email (attachment in CSV file format) easily into the AVReporter server application.  
  • Technical SpecificationsBelow are some of the specific key elements of AVReporter: