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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Iraq is among the countries most vulnerable to economic production losses

rocky
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Iraq is among the countries most vulnerable to economic production losses Empty Iraq is among the countries most vulnerable to economic production losses

Post by rocky Thu 20 Jan 2022, 2:14 pm

[size=52]Iraq is among the countries most vulnerable to economic production losses[/size]

[size=45]International consulting firm Woodmackenzie issued a report on Thursday, confirming that the transition to clean energy could cost global GDP a 2% drop by 2050.[/size]
[size=45]According to the report published by "Reuters", the transition to clean energy could reduce global GDP by 2% by 2050, a decline that could recover before the end of the century.[/size]
[size=45]The report says investments in technologies such as solar and wind farms and advanced batteries will help create jobs, but the transition is also likely to cut jobs and reduce tax revenue in the electricity sector and fossil fuel production.[/size]
[size=45]“This is by no means a way of saying we should not continue or slow the shift,” says Peter Martin, chief economist at Woodmackenzie, emphasizing that “this short-term negative impact will pay off in the long term.”[/size]
[size=45]According to the report, the benefits of limiting global warming to 1.5°C could increase global GDP by 1.6 percent in 2050, but measures needed to accelerate the transition and prevent temperatures from rising above this level of risk at the same time reduce them by 3.6 percent. , which could lead to a decrease of 2%.[/size]
[size=45]He indicates that the impact of the transition from one economy to another will differ, as China will witness, for example, about 27% of the cumulative economic impact of 75,000 billion dollars (66,150 billion euros) on global GDP by 2050, compared to 12% for the United States, 11% for Europe and 7% for India.[/size]
[size=45]The report indicated that countries such as Iraq, which do not have the financial reserves to invest in non-fossil fuel sectors, will be most vulnerable to economic production losses.
He noted that "economies that have well-functioning capital markets that are already investing in energy transition technologies or are ready to invest will be in a better position."[/size]
[size=45]The report predicted that the economic benefits of the energy transition will appear after 2035, and the lost economic output should be restored before the end of the century.[/size]
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