The urgency of energy transition continues to be underestimated, resulting in short-sighted decisions such as expanding investment in oil and gas exploration and coal-fired power generation. This not only leaves many investors and governments exposed to sudden losses, but also "poses substantial setbacks to environmental targets."
Any delay in decisive action toward energy transition "could double the eventual costs." The transition to a cleaner energy mix will bring not only environmental and health benefits, but economic opportunities for many countries, said the report.
OVERRELIANCE ON MONETARY POLICY
"Overreliance on monetary policy" is not just insufficient to revive growth; it also entails significant costs, including the exacerbation of financial stability risks. A more "balanced policy mix" is needed, one that stimulates economic growth while moving toward greater social inclusion, gender equality, and environmentally sustainable production.
"Amid growing discontent over a lack of inclusive growth, calls for change are widespread across the globe. Much greater attention needs to be paid to the distributional and environmental implications of policy measures," said Harris at the press conference.
【国际英语资讯:Spotlight: Global economy likely to grow 2.5 pct in 2020, if risks kept at bay: UN】相关文章:
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