Friday 23 July 2021

Unfortunately, Total Jobs May Not Swing the Argument?

The Organisation for Economic Co-operation and Development (OECD) calculate that about 18 million people are currently employed world-wide in energy industries. They estimate that, if current climate targets are met, there will be 26 million jobs in energy industries by 2050. This is 8 million extra jobs (https://www.theguardian.com/environment/2021/jul/23/hitting-global-climate-target-could-create-8m-energy-jobs-study-says ). The OECD say this looks like a 'no-brainer'. They note, however, that there would be big increases in renewables with declines in the fossil fuel sector. These are, of course, generally not the same people (in terms of their worker skills and share holders). Furthermore, the fossil fuel sector has very deep pockets and is likely to fight change 'every inch of the way'. Logic will only get us so far!

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