21 June 2022
2021/22 Rybczynski Prize Essay
Can the clean energy transition boost global growth?
James Nixon, Oxford Economics
Felicity Hannon, Oxford Economics
“Without immediate and deep emissions reductions across all sectors, limiting global warming to 1.5°C [in line with the Paris Agreement] is beyond reach.” That was the unequivocal conclusion of the most recent report from the Intergovernmental Panel on Climate Change (IPCC 2020). Reducing emissions will require a transformation, not only in the energy sector but also in transport, buildings, and agriculture. This will involve a substantial reduction in fossil fuel use, widespread electrification, improved energy efficiency, and the use of alternative fuels (such as hydrogen).
Read Can the clean energy transition boost global growth?