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A study by the Global Commission on the Economy and Climate has shown that actions to combat climate change can add up to at least $26 trillion to the global economy by 2030, Reuters reports. The study dispels fears that the abandonment of fossil fuels will slow global growth. The authors of the study note that as a result of thoughtful investments in clean energy, cities and food products, as well as with more rational use of land and water, 65 million new jobs can be created in 2030. The transition from organic fuel to clean wind and solar energy will help by the year 2030 avoid 700 thousand premature deaths from air pollution. Based on the study, it is recommended that in developed countries, by 2020, the rates for carbon dioxide emissions be raised to 40-80 dollars per ton. States will be able to earn 2 trillion 800 billion dollars a year through reforms in subsidizing the energy sector and high prices for emissions.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
The U.S. Federal Reserve eased another $2 million in emergency loans this week to help struggling U.S. businesses amid the recession. The Fed’s overall asset portfolio reported growth for the second week, holding above $7 trillion. The ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...
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