Economic risks in 2020 call for global energy shift: UN Report

Published onJanuary 30, 2020

The UN has published the 2020 edition of the World Economic Situation and Prospects (WESP) report. It draws attention to economic risks in 2020 posed by trade disputes, policy uncertainties, and political polarization. This political and economic climate, combined with rising global temperatures and more weather-related shocks, points to a clear need for “a dramatic shift in the global energy mix.” The WESP report is produced annually by the UN Department of Economic and Social Affairs (DESA), the UN Conference on Trade and Development (UNCTAD) and the five UN regional commissions. The authors of the 2020 report stress that a cleaner energy mix will mean benefits for human health and the environment. The transition can also bring economic opportunities, but careful policy strategies are needed to ensure an even distribution of the costs and benefits between and within countries.