A carbon footprint is historically defined as the total greenhouse gas emissions caused by an individual, event, organization, or product, expressed as carbon dioxide equivalent.

A new special report from the International Energy Agency (IEA) and International Monetary Fund (IMF) sets out a sustainable recovery plan to quickly create jobs, boost economic growth, and cut emissions.

What’s the Plan about?

The plan would require a $1tn annual investment over the next three years, Reuters reports, covering 30 energy policy measures across electricity, transport, buildings, fuels, and emerging low-carbon technologies.

The plan sets out policies and targeted investments for each key sector, including measures designed to accelerate the deployment of low-carbon electricity sources such as new wind and solar, and increase the spread of cleaner transportation such as more efficient and electric vehicles and high speed rail.

Global Impacts of the Plan

The IEA said that the plan could boost global economic growth by an average of 1.1 percentage points a year over 2021 to 2023.

It could also save or create around 9 million jobs a year and reduce global energy-related greenhouse gas emissions by 4.5bn tonnes by the end of the plan.

The plan would stop emissions from rebounding as the world recovers from the coronavirus pandemic and instead lock in a structural decline.

“Policy makers are having to make hugely consequential decisions in a very short space of time as they draw up stimulus packages,” said IEA Executive Director Fatih Birol. “The plan is not intended to tell governments what they must do. It seeks to show them what they can do,” he added.

Derick Lila
Derick is a Clark University graduate—and Fulbright alumni with a Master's Degree in Environmental Science, and Policy. He has over a decade of solar industry research, marketing, and content strategy experience.

Trina Solar unveils a smart PV solution featuring modules with power output exceeding 500W

Previous article

Hanwha Q CELLS’ patent infringement complaint against JinkoSolar, REC, and LONGi Solar upheld in German Court

Next article

You may also like


Comments are closed.

More in News