Economic Recovery

Why Green Projects May Be the Key to Economic Recovery

As the world begins to slowly reopen after the COVID-19 lockdown, economic recovery is the first priority for nations around the world. However, with mass unemployment, it will be difficult. In just America, over 40 million people are unemployed.

However, one way to stimulate economies and create millions of jobs are green projects.

Economic conditions are being compared to the great depression, and one solution to the problem was undertaking huge projects that required a large labor force like the Hoover Dam. Creating similarly sized green projects could have the same effect.

This is exactly why the European Union has presented its own stimulus plan that includes green projects as the center last Wednesday.

Why Green Projects Are the Perfect Solution for Economic Recovery

Construction Workers

When many people think of green projects, they tend to think that it all requires a college degree and experience. However, that isn’t the case.

There is a lot of work to do, and much of it in the form of manual labor. Construction does not just consist of heavy equipment. It takes manpower, and that is the perfect way to get people in employment.

Building huge solar and wind farms, installing networks of electric vehicle recharging stations, and many other projects are exactly what the economy needs to get jumpstarted.

It also just makes sense to push for a green transition. Renewable energy is simply cheaper than fossil fuel in most places. Those prices will continue to decrease as the technologies are mass-produced and become more efficient.

Domino Effect

If economic recovery is successful as a result of pushing the green preen projects, other countries are sure to follow suit. And thus, the domino effect begins.

According to an IPSOS poll, 71% globally agree that climate change is as serious of a threat as COVID-19. It’s very clear that public opinion is in favor of pushing for the transition. And many governments are aware this is a perfect time.

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