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Can a low-carbon recovery agenda create jobs and help the economy?

Company: McKinsey & Company, Inc. Prague

In short, yes. One study showed that government spending on renewables creates 50 more jobs per $10 million invested than spending on fossil fuels.

Amid debate over how to spend stimulus funds, some have questioned whether low-carbon programs generate sufficiently strong economic returns. Yet research suggests that many such programs stimulate growth and create jobs as effectively as—or better than—environmentally neutral or harmful programs. In a survey reported in a recent working paper, more than 200 economists and economic officials said that “green” economic-recovery measures performed at least as well as others did. An econometric study of government spending on energy technologies showed that spending on renewables creates five more jobs per million dollars invested than spending on fossil fuels.

To read the article, see “How a post-pandemic stimulus can both create jobs and help the climate.” 

Tags: Economics | Finance | Business Development | Human Resources |

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