More jobs in renewable-led COVID-19 economic recovery, EY report finds:ABC

Cooked coral reefs

A renewables-led economic recovery will create almost three times as many jobs as a fossil-fuel-led recovery, according to a report by economic consultancy Ernst and Young (EY).

Key points:

• The EY report, commissioned by conservation group WWF, called for a mix of incentives, subsidies and regulations
• The Government has indicated a preference for gas production to lead the country's recovery
• Business groups say Australia needs to approach recovery as "an opportunity, not as a challenge"

The newly published report proposed six focus areas, which it said would simultaneously stimulate the economy and move Australia towards net-zero greenhouse gas emissions by 2050, in accordance with the 2015 Paris Agreement.

While the Federal Government has spoken of a "gas-fired" COVID-19 recovery, the EY report, commissioned by conservation group WWF Australia, argues replacing fossil fuels with renewable electricity and hydrogen will be better for the economy. 

"We can rebuild our economy in a way that sets up Australia for prosperity in a world hungry for a low-carbon future," WWF Australia energy transition manager Nicky Ison said.

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