IMF: World to Gain Nearly US$78 Trillion Over Coming Decades by Making Energy Transition

• 15 June 2022
• Construction Focus
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In the upcoming decades, the world will gain US$77.89 trillion by replacing coal with renewable energy, according to a publication of the International Monetary Fund (IMF) on 8 June 2022.

The net gain of this transition presents represents around 1.2% of the current world GDP every year until 2100.

The IMF added the amount of money calculated for the cost of replacing coal with renewables, as well as the social benefits of this important transition.

Through the transition, the world will avoid damage from climate change and also harm to people’s health.

In Cambodia, the Royal Government has no longer permitted new coal-fired power plant development projects and turned to increase renewable energy usage and other energy sources that are not harmful to the environment. (Read more)

Moreover, the Ministry of Mines and Energy (MME) and the Japan International Cooperation Agency (JICA) have developed a map on the clean energy transition forward carbon neutrality refers to the use of clean energy, such as solar, wind, etc., and minimising energy consumption from carbon, such as coal. (Read more)

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