Net jobs could increase by eight million by 2050 if the world keeps temperature rises below 2°C as set out in the Paris Agreement, a new study has found.
Utilising a global data set of “job footprints” in 50 countries, researchers calculated how hitting climate targets would affect workers in the energy sector. They said the jobs boost would primarily come via the solar and wind industry.
Johannes Emmerling, one of the authors of the report, which was published in the journal One Earth, said around 18 million people currently work in the energy industry. But that figure could rise to 26 million if the world hits its climate targets, he said.
“Manufacturing and installation of renewable energy sources could potentially become about one third of the total of these jobs, for which countries can also compete in terms of location,” said Mr Emmerling, an environmental economist at the Milan-based RFF-CMCC European Institute on Economics and the Environment.
He said that “the energy transition is increasingly being studied with very detailed models, spatial resolutions, timescales and technological details”.
“Yet the human dimension, energy access, poverty, and also distributional and employment implications are often considered at a high level of detail. We contributed to this gap by collecting and applying a large data set across many countries and technologies that can also be used in other applications.”
The researchers' modelling showed that 84 per cent of those jobs would be in renewables by 2050, 11 per cent in fossil fuels and 5 per cent in nuclear energy.
While fossil fuel extraction, which currently makes up 80 per cent of fossil fuel jobs, would decline steeply, jobs in this area would be replaced by solar and wind manufacturing positions.
“Extraction sector jobs are more susceptible to decarbonisation, so there needs to be just transition policies in place,” said co-author Sandeep Pai of the University of British Columbia.
“For example, the mobility of manufacturing jobs will be useful in areas where decarbonisation is rife. In many cases, fossil fuel workers also hold political influence because of their history and high rates of unionisation among others, so as we move to low carbon sources, it is important to have a plan in place for the general acceptability of climate policies.”
The Paris Agreement, adopted in 2015, says the goal is to limit global temperature rises below 2 °C from pre-industrial levels, although ideally the increase would be limited to 1.5 °C.
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Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
MATCH DETAILS
Juventus 2 (Bonucci 36, Ronaldo 90 6)
Genoa 1 (Kouame 40)
