World’s clean tech revolution ‘needs $4 trillion a year’
World's clean tech revolution 'needs $4 trillion a year' The National
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Sustainable Development Goals: A $4 Trillion Green Investment Push Needed for Sustainable Growth
A vast green investment push worth at least $4 trillion a year is needed to put the world on a path of sustainable growth, says one of Britain’s leading thinkers on climate change.
Lord Nicholas Stern’s Warning
Lord Nicholas Stern, who wrote a landmark 2006 report making the economic case for green policies, will re-enter the debate this week with a warning that action must be “swift and strong”.
Rejecting Market Fundamentalism
In three lectures at the London School of Economics, he is expected to call on governments to reject “market fundamentalism” and use its muscle to promote clean technology.
The Importance of Decisions
Decisions in the coming years “will dictate whether we lock in high carbon emissions or transition to sustainable, resilient and inclusive development”, he will say.
The Role of Sustainable Development Goals
Countries made a series of pledges to cut carbon emissions at last year’s Cop28 talks in the UAE. Climate talks in 2024 are expected to focus on how to finance them.
Limiting Global Temperature Rise
The world’s agreed aim is to limit the global temperature rise to 1.5°C above pre-1900 levels, but without putting the brakes on economic development.
The Importance of Investment
“A big push on investment is central to this transformation, requiring at least $4 trillion a year globally by 2030. A new model of growth and development is in our hands but action must be swift and strong,” Lord Stern is expected to say in London.
The Role of Government Intervention
“Market fundamentalism has given way to recognising the state’s essential role in promoting sustainability and tackling inequality. Government intervention is critical to achieve sustainable growth and development in a world with many key market failures.”
The Influence of the Stern Review
Lord Stern, a former Treasury official and World Bank chief economist, wrote in his 2006 report that the benefits of going green “far outweigh the economic costs of not acting”.
The Stern Review helped shape the thinking of the then-Labour government under Tony Blair and Gordon Brown, which passed the UK’s first climate change act in 2008.
The Urgency for Emissions Reductions
However, he has since criticised the UK government’s climate policies and will warn of “irreversible climate impacts” unless the world moves to a “strong path of emissions reductions” leading to net zero.
The Need for CO
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | Target 7.2: Increase substantially the share of renewable energy in the global energy mix | No specific indicators mentioned in the article |
| SDG 8: Decent Work and Economic Growth | Target 8.4: Improve progressively, through 2030, global resource efficiency in consumption and production and endeavor to decouple economic growth from environmental degradation | No specific indicators mentioned in the article |
| SDG 9: Industry, Innovation and Infrastructure | Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes | No specific indicators mentioned in the article |
| SDG 11: Sustainable Cities and Communities | Target 11.3: Enhance inclusive and sustainable urbanization and capacity for participatory, integrated and sustainable human settlement planning and management in all countries | No specific indicators mentioned in the article |
| SDG 13: Climate Action | Target 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters in all countries | No specific indicators mentioned in the article |
| SDG 17: Partnerships for the Goals | Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology and financial resources | No specific indicators mentioned in the article |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: thenationalnews.com
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