Sustainable Energy Transition
A sustainable energy transition is a driver of positive change
Renewables do not emit greenhouse gas emissions or other air pollutants during operation. Even when accounting for the total carbon footprint over their full life cycle, renewables far outperform coal, oil and gas.
To reach net-zero emission targets by 2050 requires an accelerated energy transition with renewable energy at its core.
Renewables are competitive
Investing in renewable energy such as wind is a safe bet – not only from a climate or environmental perspective, but also from a purely cost perspective.
Renewables will increase their cost competitiveness through economies of scale and technological innovation, whereas the cost of fossil fuels will rise due to increasing CO2-prices.
Renewables create jobs*
Investment in renewables has had a very positive job creation effect. This is due to longer and more diverse supply chains, higher labor intensity, and increased net profit margins.
Jobs in renewables are created directly and indirectly along the entire value chain - during construction, operation and maintenance. And as many jobs are local by nature, remote areas also feel the benefit.
Renewables consume less water
Conventional power plants such as gas, coal or nuclear consume huge amounts of water.
Replacing water-intensive fossil-fuel based power generation with electricity generated by wind can save more than 1,500 litres of water per megawatt hour.
*Source: McKinsey & Company, How a post-pandemic stimulus can both create jobs and help the climate, 2020, https://www.mckinsey.com/business-functions/sustainability/our-insights/how-a-post-pandemic-stimulus-can-both-create-jobs-and-help-the-climate