Investment in environmentally friendly technologies is growing globally
Going GreenCLIMATE change is one of the most pressing challenges facing the planet. Man-made greenhouse gas emissions from fossil fuel combustion and changes in land use are the predominant causes. The emission of greenhouse gases leads to global warming, smog, and acid rain and adversely affects public health. Several studies point to potentially catastrophic outcomes for humans if greenhouse gas emissions are not reduced (Stern, 2007).
But climate change has more than environmental and health consequences. There are likely to be important economic effects as well, given the far-reaching impact of higher temperatures, rising sea levels, and extreme weather conditions on output and productivity. Moreover, climate developments will likely disrupt governmental fiscal positions both through reduced tax revenues and from spending programs—importantly, through the costly policies needed to mitigate climate change and adapt behavior and production to the new environment (IMF, 2008a and 2008b). These costs and risks point to the unsustainability of current patterns of energy use, but the transition to a low-carbon-emission model will require large investments in alternative, so-called green, energy sources.
See full Article.
Thursday, June 21, 2012
Going Green
Investment in environmentally friendly technologies is growing globally
Going GreenCLIMATE change is one of the most pressing challenges facing the planet. Man-made greenhouse gas emissions from fossil fuel combustion and changes in land use are the predominant causes. The emission of greenhouse gases leads to global warming, smog, and acid rain and adversely affects public health. Several studies point to potentially catastrophic outcomes for humans if greenhouse gas emissions are not reduced (Stern, 2007).
But climate change has more than environmental and health consequences. There are likely to be important economic effects as well, given the far-reaching impact of higher temperatures, rising sea levels, and extreme weather conditions on output and productivity. Moreover, climate developments will likely disrupt governmental fiscal positions both through reduced tax revenues and from spending programs—importantly, through the costly policies needed to mitigate climate change and adapt behavior and production to the new environment (IMF, 2008a and 2008b). These costs and risks point to the unsustainability of current patterns of energy use, but the transition to a low-carbon-emission model will require large investments in alternative, so-called green, energy sources.
See full Article.
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