Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Energy

IMF says the world would profit $78 trillion from replacing coal with renewable energy

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
June 10, 2022
in Energy
France Will give Nigeria, Others 2 billion Euros For Renewable Energy
Share on FacebookShare on TwitterShare on Linkedin

The International Monetary Fund has projected that the world would profit $78 trillion through the end of this century from replacing coal with renewable energy.

This was disclosed by the International Monetary Fund via a blog post titled “How Replacing Coal With Renewable Energy Could Pay For Itself”

The most prevalent argument about replacing coal with renewable energy is that it would be too expensive, but a new IMF study reveals that the economic advantages would considerably surpass the expenses.

RelatedPosts

Oil marketers threaten massive fuel scarcity by next week, deny FG’s N74 billion payment claim

Shell pauses Nigerian onshore divestment pending outcome of court case

What the IMF is saying

  • The IMF said, “We analyze this great carbon arbitrage, as we call it, in a recent working paper that calculates the cost of replacing coal with renewables, as well as the social benefits of this important transition. The benefits from ending coal use come from avoiding damage from climate change and harm to people’s health.”
  • The International lender added that “Our estimate is that by doing so the world would yield a net gain of nearly $78 trillion through the end of this century. That’s around four-fifths of global gross domestic product now, and would be equivalent to about 1.2%  of annual global economic output during the period.”
  • According to IMF research, stopping coal use isn’t excessively expensive because it brings economic benefits from lower carbon emissions, such as preventing climate-related infrastructure damage. Renewable energy investments also stimulate economic growth and provide additional benefits from innovation.
  • The research demonstrates that phasing out coal is not only necessary but also essential because it would help keep global warming to 1.5 degrees Celsius. Importantly, the economic and health benefits are substantial enough that we should continue to press for global agreements that unleash capital markets’ full potential.
  • The IMF said, “It’s a sound economic logic to pay for the replacement of coal with renewables to reap a net social gain measuring in the tens of trillions of dollars.”

The IMF also stated that Public-private partnerships to finance the replacement of coal with renewables could accelerate the green transition and complement incomplete carbon pricing by helping to achieve the Paris Agreement’s aim of making finance flows consistent with a pathway toward low greenhouse gas emissions and climate-resilient development.

Related

Tags: IMFInternational Monetary Fund

Comments 1

  1. Kelechukwu says:
    June 10, 2022 at 5:15 pm

    wow this is commendable,be sure that the carbon emissions would reduce drastically,and engender flow of investment in green clean energy, Carbonomics the way to go,we have been monitoring that,oh if you care to know more about it’s investment call/WhatsApp SAILTltd 08029969195

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Financial steps you must take in your 40s to be rich
    • Nigeria’s Israel Adesanya set to earn up to $1.8million for defeating Jarred Cannonier
    • How will the Lagos Real Estate market perform in H2 2022?

    Follow us on social media:

    Recent News

    Financial steps you must take in your 40s to be rich

    Financial steps you must take in your 40s to be rich

    July 3, 2022
    Nigeria’s Israel Adesanya set to earn up to $1.8million for defeating Jarred Cannonier

    Nigeria’s Israel Adesanya set to earn up to $1.8million for defeating Jarred Cannonier

    July 3, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com