It’s a fact that actions to reduce the impact of climate change are critical and that it involves global forces. But it’s also a fact that renewable energy players have a huge responsibility and impact on this process.To limit the increase average global temperatures to less than 2ºC, all of us should contribute by adapting our daily routines. But the truth is that industry holds the key to high impact changes in production processes in terms of emission reductions.
A report made by the International Renewable Energy Agency said that “accelerating the deployment of renewable energy will fuel economic growth, create new employment opportunities, enhance human welfare, and contribute to a climate safe future.” There is plenty of evidence that renewable energy development brings economic growth and sustainable development. So, why don’t industrial players invest more? What other interests are at stake that perhaps prevent those investments?
The next steps include putting renewable energy at an economic, regulatory or institutional advantage relative to other forms of energy sources. At current, there are still a lot of barriers such as high initial capital costs, subsidies for conventional forms of energy, lack of skills or information, poor market acceptance, technology prejudice, financing risks and uncertainties, high transactions costs, and a variety of regulatory and institutional factors. Many of these barriers could be considered market distortions that unfairly discriminate against renewable energy, while others have the effect of increasing the costs of renewable energy relative to cabon intensive alternatives.
Based on this long list, as citizens, we must continue fighting for a better and a greener world and be aware that we can influence investments with our consumption behavior. Let’s hope that industry doesn’t give up!
Relevant themes:
Climate action
Relevant tags: Sustainability, Sustainable lifestyles
