A Net Zero world can create 122 million energy jobs by 2050

The world’s economy can grow by 2.4 percent, creating up to 122 million jobs in 2050, as the world accelerates their efforts to reach a net zero world, shows a new analysis from the International Renewable Energy Agency (IRENA).

IRENA’s World Energy Transitions Outlook sees renewables-based energy systems an instigator of deep changes  with an annual investment of US $ 4.4 trillion needed on average is high.

 “There is consensus that an energy transition grounded in renewables and efficient technologies is the only way to give us a fighting chance of limiting global warming by 2050 to 1.5°C. As the only realistic option for a climate-safe world, IRENA’s vision has become mainstream,” said  Francesco La Camera, IRENA’s Director-General in a statement.

"Each country will define what is the best for them, but collectively, we must ensure that all countries and regions can realise the benefits of the global energy transition for a resilient and more equitable world. We have the know-how, we have the tools, we need to act, and do so now," he added.

The agency said that by 2050, a total US $ 33 trillion of additional investment are “required” into efficiency, renewables, end-use electrification, power grids, flexibility, hydrogen and innovations. “The benefits, however, greatly exceed the costs of investments,” said the agency.