Investment of some about $1 trillion annually over the next three years, equal to about 0.7% of today’s global GDP, would boost jobs in areas such as in retrofitting buildings, improving energy efficiency, and in the electricity sector, particularly in grids and renewables. Measures detailed in the IEA analysis on sustainable recovery, conducted with the IMF, could accelerate the deployment of low-carbon electricity sources like new wind and solar, and expand and modernise electricity grids.

One gigawatt of offshore wind capacity in Denmark creates 14,600 man-years of employment, a new report by Danish Shipping, Dansk Energi and Wind Denmark finds. A project, like the proposed Thor site, secures 4900 man-years in direct work, with a further 9600 man-years created indirectly. Denmark’s dominant position in the sector also means for every 1 GW of capacity installed in Europe, 1400 man-hours are created for Danish seafarers offering a huge potential for firms as Europe targets 450 GW of capacity by 2050.

The number of electric cars on the road globally should near ten million this year, as sales continue despite the Covid-19 pandemic, says a new report by International Energy Agency. Electric vehicle sales this year are expected to match the 2.1 million sold in 2019, a record 2.6% of the total global car sales. Total worldwide sales of all passenger cars are expected to decline this year by 15%. The IEA warns that a second wave of the pandemic and a slower-than-expected economic recovery could affect the sales of EV and vehicles with internal combustion engines.