The UN Environment Programme (UNEP) says it has found that smarter and more efficient use of the world’s natural resources can inject two trillion dollars into the global economy by 2050, calling it an “environmental win-win’.
Erik Solheim, Head of UNEP, citing new research from the International Resource Panel, said efficient resource use would also offset the costs of ambitious climate change action.
Solheim said the global population, was predicted to grow by 28 per cent by 2050 and use 71 per cent more resources per capita.
“Without urgent steps to increase efficiency, the global use of metals, biomass, minerals – such as sand – and other materials will increase from 85 to 186 billion tonnes per year by 2050,” he said.
He said the report, ‘Resource Efficiency: Potential and Economic Implications’, which was commissioned in 2015 and released in Berlin at the G20 meeting, found that investment in ambitious climate action would cause a 3.7 per cent fall in per capita gross world product by 2050.
He added that more sustainable use of materials and energy would not only cover the cost of keeping global warming below two degrees Celsius, but also add an extra two trillion dollars to the global economy by 2050.
“By making better use of our planet’s natural gifts, we will inject more money into the economy to create jobs and improve livelihoods.
“At the same time we will create the necessary funds to finance ambitious climate action,” Solheim stressed.
The report analyzed four paths that countries could take over the next three decades, ranging from ‘business as usual’ to a scenario where they adopt both ambitious climate policies and improve resource efficiency.
“For example, between 2005 and 2010, a programme in the United Kingdom recycled or reused seven million tonnes of trash destined for the landfill.
“This move saved six million tonnes of carbon dioxide emissions, close to 10 million tonnes of virgin materials and 10 million tonnes of water.
“It also increased business sales by 176 million pounds, reduced business costs by 156 million pounds and created 8,700 jobs.”
In addition to economic benefits, the analysis illustrated that resource efficiency and climate action would reduce global resource use by around 28 per cent in 2050 compared to current trends.
For G7 countries, resource efficiency, coupled with ambitious climate action, would increase Gross Domestic Product by 600 billion dollars in 2050 – 600 dollars per person, or one per cent.
The International Resource Panel is a group of experts in natural resource management hosted by UNEP. (NAN)
APT/YAZ