Investing in renewable energy will not lead to a loss of jobs, the United Nations Environment Programme has said.
Unep says the move will instead create three times more jobs than fossil fuels, among many other benefits.
Burning huge amounts of oil, gas and coal has been cited as driving climate change, but world leaders cannot yet agree on how fast the world should stop using them.
The International Energy Agency (IRENA) estimates that by 2030, five million fossil fuel jobs may be lost, but 14 million new jobs in clean energy could emerge, leading to a net gain of nine million jobs.
According to UNEP, a large chunk of the greenhouse gases that blanket the Earth and trap the sun’s heat are generated through energy production by burning fossil fuels to generate electricity and heat.
“Fossil fuels, such as coal, oil and gas, are by far the largest contributor to global climate change, accounting for over 75 per cent of global greenhouse gas emissions and nearly 90 per cent of all carbon dioxide emissions,” Unep says.
Unep adds that to reduce the worst impacts associated with climate change, there is an urgent need to reduce emissions by almost half by 2030 and reach net zero by 2050.
“To achieve this, we need to end our reliance on fossil fuels and invest in alternative sources of energy that are clean, accessible, affordable, sustainable, and reliable,” UNEP says.
Unep adds that renewable energy sources — which are available in abundance all around us, provided by the sun, wind, water, waste and heat from the Earth—are replenished by nature and emit little to no greenhouse gases or pollutants into the air.
Fossil fuels still account for more than 80 per cent of global energy production, but cleaner sources of energy are gaining ground.
About 29 per cent of electricity currently comes from renewable sources.
Unep has advanced some of the reasons why accelerating the transition to clean energy is the pathway to a healthy, liveable planet today and for generations to come.
It says renewable energy sources are in abundance.
Unep says about 80 per cent of the global population lives in countries that are net importers of fossil fuels – that’s about six billion people who are dependent on fossil fuels from other countries, which makes them vulnerable to geopolitical shocks and crises.
In contrast, renewable energy sources are available in all countries and their potential is yet to be fully harnessed.
IRENA estimates that 90 per cent of the world’s electricity can and should come from renewable energy by 2050.
Renewables offer a way out of import dependency, allowing countries to diversify their economies and protect them from the unpredictable price swings of fossil fuels while driving inclusive economic growth, new jobs and poverty alleviation.
“Renewable energy actually is the cheapest option in most parts of the world today. Prices for renewable energy technologies are dropping rapidly. The cost of electricity from solar power fell by 85 per cent between 2010 and 2020. Costs of onshore and offshore wind energy fell by 56 per cent and 48 per cent, respectively.”
Unep says renewable energy is healthier.
The World Health Organisation says about 99 per cent of people in the world breathe air that exceeds air quality limits and threatens their health, and more than 13 million deaths around the world each year are due to avoidable environmental causes, including air pollution.
The unhealthy levels of fine particulate matter and nitrogen dioxide originate mainly from the burning of fossil fuels.
In 2018, air pollution from fossil fuels caused $2.9 trillion in health and economic costs about $8 billion a day.
“Switching to clean sources of energy, such as wind and solar, thus helps address not only climate change but also air pollution and health.”
Unep says the transition to renewable energy makes economic sense.
It says that about $7 trillion was spent on subsidising the fossil fuel industry in 2022, including through explicit subsidies, tax breaks and health and environmental damages that were not priced into the cost of fossil fuels.
In comparison, about $4.5 trillion a year needs to be invested in renewable energy until 2030 — including investments in technology and infrastructure — to allow us to reach net-zero emissions by 2050.
