More than 30 million jobs could be created in clean energy by 2030

According to a report by the United Nation, Every dollar of investment in renewables creates three times more jobs than in the fossil fuel industry. The IEA estimates that the transition towards net-zero emissions will lead to an overall increase in energy sector jobs: while about 5 million jobs in fossil fuel production could be lost by 2030, an estimated 14 million new jobs would be created in clean energy, resulting in a net gain of 9 million jobs.

In addition, energy-related industries would require a further 16 million workers, for instance to take on new roles in manufacturing of electric vehicles and hyper-efficient appliances or in innovative technologies such as hydrogen.

This means that a total of more than 30 million jobs could be created in clean energy, efficiency, and low-emissions technologies by 2030.

Ensuring a just transition, placing the needs and rights of people at the heart of the energy transition, will be paramount to make sure no one is left behind.

About $5.9 trillion was spent on subsidizing the fossil fuel industry in 2020, including through explicit subsidies, tax breaks, and health and environmental damages that were not priced into the cost of fossil fuels.

In comparison, about $4 trillion a year needs to be invested in renewable energy until 2030 – including investments in technology and infrastructure – to allow us to reach net-zero emissions by 2050.

The upfront cost can be daunting for many countries with limited resources, and many will need financial and technical support to make the transition. But investments in renewable energy will pay off. The reduction of pollution and climate impacts alone could save the world up to $4.2 trillion per year by 2030.