Wed. May 29th, 2024

According to Rich Lesser, the Global Chair of the Boston Consulting Group (BCG), achieving sustainable energy goals will require significant public investment in emerging technologies. Lesser argues that many of the technologies necessary for transitioning away from fossil fuels are currently too expensive and will not become economically viable without government subsidies and support.

Key Points:

  • In December, over 190 governments at the United Nations climate conference approved a resolution calling for a shift away from fossil fuels to combat climate change.
  • Transitioning to sustainable energy sources will require the development and implementation of new technologies.
  • Many of these technologies are currently not economically viable and will require substantial government investment to become cost-effective.

Lesser’s comments highlight the challenges that arise when attempting to transition to a sustainable energy system. While there is global recognition of the need to reduce dependence on fossil fuels, the high costs associated with emerging technologies hinder progress. Public investment and subsidies can help drive down costs and make renewable energy sources more accessible and affordable.

It is important to note that achieving sustainable energy goals is not solely the responsibility of governments; private sector investment and innovation play a crucial role as well. However, as Lesser suggests, government support is crucial in the early stages of developing emerging technologies and bringing them to market.

This article emphasizes the need for public investment in emerging technologies to accelerate the transition to sustainable energy sources. Without government support, it will be challenging to overcome the high costs and economic barriers associated with renewable energy. The article underscores the importance of collaboration between governments, businesses, and research institutions to drive innovation and achieve long-term sustainability goals.

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