Renewable energy investment has the potential to combat the economic effects of COVID-19, especially in Caribbean SIDS, where renewable energy prices have fallen below fossil fuel costs. The energy transition has benefits beyond the environment. Despite the pandemic, renewable energy is growing in popularity around the globe, and after record growth in 2020, is on-track to displace coal as the world's largest energy source by 2025. SIDS have been leaders in this area, and their work towards achieving their ambitious NDCs drives good jobs and economic diversification — helping SIDS build back financially — as well as disaster resilience.
Read the original article from Dr. Gillian Marcelle, Founder and Managing Member Resilience Capital Ventures LLC and Wes Adrianson, Project Manager, Clinton Climate Initiative and Clinton Global Initiative, here.
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