Climate action now: A green transition is better economic policy

Moving away from fossil fuel reliance and using renewable energy instead is critical for mitigating the climate emergency, reducing harmful pollution, realizing many United Nations Sustainable Development Goals, and urgent for the economy. This research provides economic government policy direction for restructuring the energy industry toward a green transition. Findings show that more renewable energy innovation is good for the economy. Pollution taxes help renewable energy innovation to make a stronger economy. In fact, government and industry support for fossil fuel industries negatively affects a country’s renewable energy innovation so the energy industry must transition to produce a more robust economy. Economically, we cannot do both fossil fuels and renewable energy. Instead, investing in clean energy research and innovation should be prioritized while discouraging anti-competitive activities of the fossil fuel industry.De Lange, Deborah. (2024). Climate action now: Energy industry restructuring to accelerate the renewable energy transition (external link, opens in new window) . Journal of Cleaner Production, Vol. 443, 141018.