Significant declines in the cost of renewable technologies, combined with new sources of natural gas, could help decarbonize the sector and reduce dependence on imported fuels. OECD countries have invested heavily to achieve this, spending $3 trillion on energy efficiency measures, but more has to be done.
In times of economic uncertainty and slow growth, it is more important than ever for economies to find alternative ways to gain a competitive advantage. Healthy individuals and healthy populations can create a competitive advantage through increased productivity, reduced healthcare costs and overall higher levels of well-being.
Reducing supply chain barriers benefits nations, producers and consumers. World Economic Forum research has determined that the measures to streamline border administration in current agreements are not enough. Improvements in infrastructure, the business environment and market access are also needed to create globally competitive industries.
Although the sun shines mostly in the south of Europe and the wind blows hardest in the north, EU countries spent $550 billion deploying solar panels in the north and wind turbines in the south. If each country in the EU had picked the best renewable technologies for its climate, the EU would have saved an estimated $100 billion.
New border procedures in Brazil have the potential to streamline trade and increase economic growth.
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