The worldwide transition to renewable energy sources is already underway as climate change creates more significant impacts on the global supply chain and economy.
The global shift to renewable energy won’t be stopped by Trump’s election, asserts María Mendiluce in a piece for Forbes. According to Mendiluce, “Renewables are cheap and available everywhere and that is they are considered a major contributor to national security. Delaying the transition to clean solutions, will mean losing competitiveness vis a vis countries like China that will reap the benefits of their leadership in the development of clean energy supply chains (from extraction of critical materials and manufacturing, to combining clean solutions like renewables, electric vehicles and battery storage).”
Moreover, the market for renewable energy and its related infrastructure continues to grow, making it an economically advantageous shift. “It is a financial necessity, driven by the recognition that extreme events poses critical risks to global supply chains, business operations, and economic stability.”
Mendiluce offers some suggestions for participants at the COP29 conference. “To drive the energy transition, COP29 must produce a groundbreaking financial framework. Negotiators need to agree a new collective quantified goal for climate finance to mobilise significant private investment, particularly in low- and middle-income countries.” Mendiluce also calls for “robust, predictable” regulations to provide stability for the global scaling of renewables and an equitable transition for smaller enterprises and vulnerable communities.
FULL STORY: Renewable Energy Shift Unstoppable Despite U.S. Election Result
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