The International Energy Agency (IEA) proposed a post-Covid-19 “sustainable Recovery Plan” to governments around the world on Thursday 18 June. The plan is a roadmap for the energy sector to stimulate economic growth, create millions of jobs and reduce global greenhouse gas (GHG) emissions.
“Our Sustainable Recovery Plan provides [governments] with rigorous analysis and clear advice on how to tackle today’s major economic, energy and climate challenges at the same time. The plan is not intended to tell governments what they must do. It seeks to show them what they can do”, said IEA Executive Director Fatih Birol.
The plan calls for annual global investments in the order of $1 trillion, or about 0.7% of global GDP, over the next 3 years.
According to an IEA analysis carried out in cooperation with the International Monetary Fund, the set of policy actions and targeted investments for the period 2021-2023 described in this recovery plan can in particular: (1) stimulate global economic growth by an average of 1.1% per year; (2) save or create about 9 million jobs per year; (3) reduce global annual energy-related GHG emissions so that by 2023 they are 4.5 billion tonnes lower than they would be without the plan; (4) reduce emissions of air pollutants by 5%.
On the second point, most of the new jobs generated by the plan would relate to the renovation of buildings to improve energy efficiency and the electricity sector, in particular networks and renewable energies, the agency said.
To consult the report: https://bit.ly/3hFj1Vx (Original version in French by Damien Genicot)