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Renewable energy can contribute to "social and economic development, energy access, secure energy supply, climate change mitigation, and the reduction of negative environmental and health impacts". Under favourable circumstances, cost savings in comparison to non-renewable energy use exist. [2]
The concern for climate change control and mitigation has consequently spurred policy makers and scientists to treat energy use and global climate as an inextricable nexus with effects also going in reverse direction [12] and create various initiatives, institutions and think tanks for a high-level treatment of the relationships:
Some climate change effects: wildfire caused by heat and dryness, bleached coral caused by ocean acidification and heating, environmental migration caused by desertification, and coastal flooding caused by storms and sea level rise. Effects of climate change are well documented and growing for Earth's natural environment and human societies. Changes to the climate system include an overall ...
Climate change mitigation policies can have a large and complex impact on the socio-economic status of individuals and countries This can be both positive and negative. [299] It is important to design policies well and make them inclusive. Otherwise climate change mitigation measures can impose higher financial costs on poor households. [300]
Most of this is private-sector investment in renewable energy deployment, public-sector investment in sustainable transport, and private-sector investment in energy efficiency. [253] The Paris Agreement includes a pledge of an extra $100 billion per year from developed countries to poor countries, to do climate change mitigation and adaptation.
This trend is driven by increasing recognition of renewable energy's role in mitigating climate change and enhancing energy security, along with investor interest in alternatives to fossil fuels. Policies such as feed-in tariffs in China and Vietnam have significantly increased renewable adoption.