“On Wednesday, a new report United Nations report urged governments to pour money into renewable energy to pull us out of economic depression driven by the coronavirus and jumpstart the transition away from fossil fuels.
The analysis was undertaken by the United Nations Environment Program, the Frankfurt School-UNEP Collaborating Center, and BloombergNEF, which looked at investment pledges for renewable energy for the next decade as well as investment trends in the renewable sector in 2019. Their findings show that countries need to do more to transition to renewables, but that doing so now is a better investment than ever. The analysis follows in the footsteps of activists, scholars, policy wonks, and industry groups, all of which have implored governments to use recovery from the coronavirus to also address the climate crisis.
“The chorus of voices calling on governments to use their covid-19 recovery packages to create sustainable economies is growing,” said Inger Andersen, Executive Director of UNEP, in a statement. “This research shows that renewable energy is one of the smartest, most cost-effective investments they can make in these packages.””