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The Economic Benefits of Decarbonization: Opportunities in the Renewable Energy and Green Tech Market

Yet another article has been published about why now is the time for companies to invest in decarbonization efforts. The most recent article has been published by the World Economic Forum, outlining key points as to what makes right now such an optimal time for reducing emissions—see below (Francis, 2023). While the current political and economic events—a looming recession, the Ukraine War, increased inflation—paint a gloomy background, there is actually an immense amount of opportunity to be found in the carbon market.

 

🌳 RENEWABLE ENERGIES & GREEN TECH. ARE CHEAPER THAN EVER: Various government subsidiaries implemented in the past year, such as the Inflation Reduction Act (IRA), provide additional funding to aid the climate fight and provide incentives such as tax credits to do so. Also, despite huge supply chain disruptions, the upstart and maintenance costs of renewables remained lower than that of coal and natural gas plants. It was also found that the price of wind and solar have continued to decrease by 10% each year, providing tangible hope and proof that the global economy does have the means to switch to renewable energy and that it would even be economically advantageous to do so.

🌳 DECARBONIZATION IS SYNONYMOUS WITH ECONOMIC OPPORTUNITY: The climate fight is no longer reserved for those passionate about the well-being of our planet, but also for those looking for great business opportunities—note, this is not a space for greenwashing but rather for businesses who meet their climate intentions in a transparent, reliable and genuine manner. There is also an increasing demand among consumers for climate responsibility and stewardship, with a large percentage of consumers saying they’d pay premium prices for sustainable brands and products.

🌳 GET AHEAD OF REGULATION: More and more businesses are being made to reduce their emissions, which goes hand in hand with regulation, of which is only becoming more stringent as pressure from customers, investors & employees grows. The US government has already proposed a rule that requires federal contractors to disclose their emissions and climate goals. Globally, governments are becoming more serious about climate regulations. Businesses who lead this movement will reap significant financial benefits and be trailblazers in the start of overcoming the climate crisis.

The global economy is steadily moving towards net-zero, now is the time to act!

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