COVID-19 recovery packages can benefit climate targets and clean energy jobs, but scale of impacts and optimal investment portfolios differ among major economies.
One Earth
; 5(9): 1042-1054, 2022 Sep 16.
Article
in English
| MEDLINE | ID: covidwho-2031613
ABSTRACT
To meet the Paris temperature targets and recover from the effects of the pandemic, many countries have launched economic recovery plans, including specific elements to promote clean energy technologies and green jobs. However, how to successfully manage investment portfolios of green recovery packages to optimize both climate mitigation and employment benefits remains unclear. Here, we use three energy-economic models, combined with a portfolio analysis approach, to find optimal low-carbon technology subsidy combinations in six major emitting regions Canada, China, the European Union (EU), India, Japan, and the United States (US). We find that, although numerical estimates differ given different model structures, results consistently show that a >50% investment in solar photovoltaics is more likely to enable CO2 emissions reduction and green jobs, particularly in the EU and China. Our study illustrates the importance of strategically managing investment portfolios in recovery packages to enable optimal outcomes and foster a post-pandemic green economy.
Full text:
Available
Collection:
International databases
Database:
MEDLINE
Type of study:
Experimental Studies
Language:
English
Journal:
One Earth
Year:
2022
Document Type:
Article
Affiliation country:
J.oneear.2022.08.008
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