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Paul Favret Talks About a Few Factors That Make Clean Energy Investments a Popular Idea

Climate change is among the most pressing issues of current times. The impact of climate change is already being felt by people across the world, and the situation is likely to get only worse. Heat waves, floods, droughts, and other extreme weather events are becoming more severe and common. These events are putting strain on food and water supplies, and making it difficult for many to properly lead their lives. Immediate action has become critical to avoid the worst effects of climate change. One of the steps in doing so is to reduce greenhouse gas emissions, which majorly come from fossil fuels. By choosing to invest in clean energy, one can do their bit in regards to protecting the environment.

A large number of experienced investors belonging to the energy sector, including Paul Favret, have been attracted towards clean energy investments in recent years.

Paul Favret marks the importance of investing in clean energy

The world needs to cut down energy-related carbon dioxide emissions considerably, and aim for net-zero emissions by 2050, to prevent the world effects of climate change. Reducing the reliance on fossil fuels is vital for building economies in a more sustainable manner. Doing so would require a good sum of annual subsidies, tax breaks, and uncharged external impacts of fossil fuel production and use. To actually de-carbonize the industry, it has become important to promote industrial energy diversification into low-carbon technologies. These technologies may include concentrated solar thermal for hot water, ammonia, and hydrogen. Moreover, to support the transition of the transportation sector away from fossil fuels, bolstering vehicle electrification efforts and equipping them with renewable electricity has also important.

The domain of clean energy is one of the fastest-growing industries in the world at the moment. Contributing to it in any form, big or small, can lead to job creation across economies and industries on a magnanimous scale. The switch to renewable energy is already creating jobs in constructing, manufacturing, and engineering industries. More widespread investment and adoption in clean energy solutions can majorly boost the economy. Additionally, as renewable energy does not really depend on imported fuels, opting to invest in renewable energy sources can cut down the dependency of a country on foreign sources of energy. It can help improve the national security of an economy by making it less vulnerable to political instability and supply disruptions in other nations. Moreover, renewable energy sources are ideally not subject to the same geopolitical tensions as traditional energy sources. As a result, nations that heavily depend on renewable energy are less likely to be affected by political instability or conflict.

The growing popularity of clean energy and the increase in government investment in this sector has made it attractive for many energy investors. Paul Favret, the founder and owner of Abundant Investments, announced that his company shall majorly liquidate all its oil and gas investments initiated in the past ten years. His company additionally shall pivot to more sustainable investments such as geothermal, solar, and wind.

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