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Economic and social impacts of energy transition

Overview

Reports from the Plan4Climate coalition, CAN Europe, and the International Renewable Energy Agency (IRENA) highlight the economic and social advantages of the energy transition. Research indicates that transitioning to renewable energy in Europe could save 34,000 lives and generate 826 billion euros annually by 2030, with potential European benefits reaching €2 trillion by 2050.

In Portugal, the transition is projected to yield €8.5 billion in annual co-benefits by 2030, potentially increasing to €28.6 billion by 2050. These benefits include job creation, energy savings, and health improvements, such as preventing 8,000 hospitalizations and 3.3 million sick days each year due to reduced air pollution.

On a global level, IRENA’s 2026 World Energy Transition Outlook emphasizes that urgent reforms and accelerated electrification are necessary to meet the 1.5°C Paris Agreement target. While renewable capacity continues to break records, the agency notes that grid reinforcement and energy efficiency improvements are currently lagging behind increasing global demand.

Entities

Portugal · Plan4Climate · Zero · European Union · IMF

Timeline

  1. [BUSINESS] 2 sources
    Renewable energy transition drives global reform and economic benefits

    IRENA calls for accelerated renewable electrification to meet climate goals, while studies suggest the energy transition could provide Portugal with €8.5 billion in annual economic co-benefits by 2030.

  2. [INTERNATIONAL] 11 sources
    Energy transition in Europe could save 34,000 lives and billions annually

    Studies show Europe's energy transition could save 34,000 lives and generate 826 billion euros annually by 2030, while IRENA calls for rapid renewable growth to meet 1.5°C climate targets.

Sources

brasil247.com · climainfo.org.br · correiodamanhacanada.com · dnoticias.pt · eco.sapo.pt · esteval.fr · greensavers.pt · motor24.pt · observador.pt · portugal.fr · recordeuropa.com · sapo.pt · theportugalnews.com