Representational image. Credit: CanvaA groundbreaking study from the Wegener Center for Climate and Global Change at the University of Graz has confirmed that expanding climate protection policies and achieving economic growth are not only compatible but mutually reinforcing.
The research underscores the economic advantages of Austria’s transition to climate-friendly systems, revealing that a stronger focus on renewable energy can serve as a powerful driver of economic growth. The study estimates that such policies could generate over 100,000 new jobs, boosting employment across the nation.
By analyzing data from 50 prior studies, the research concludes that bold climate policies can ease public budget pressures. Increased reliance on sustainable energy reduces the need for government subsidies, which in Austria amounted to approximately €16.3 billion between 2022 and 2024 to mitigate inflation in the energy sector.
The study also highlights the need for ongoing investment in renewable energy development, recommending an annual investment of €4.5 billion. This approach is expected to not only strengthen energy security but also enhance economic performance, with projections indicating a GDP increase of €9.8 billion.
The findings emphasize renewable energy’s role as a cornerstone of Austria’s sustainable future, positioning it as a key element in achieving climate-friendly energy supplies while fostering economic prosperity.
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