5 Levers For Decarbonizing The Global Economy

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"We are currently facing what can best be described as a 'polycrisis'a situation in which numerous harmful events simultaneously occur," says the World Economic Forum in a blog post.

"The situation is turbulent, Europe is living under the shadow of an energy crisis, and global supply chain problems in the wake of the geopolitical pandemic continue to frustrate manufacturers."

But the economic crisis doesn't mean that now is not a good time to take action on climate change and sustainability.

"From a business perspective, switching to sustainable business models and renewable energy sources would be more sensible," the blog post says.

Here are the five key levers the World Economic Forum wants to see put in place to make that happen: Smart de-risking: The group wants private investors to take the lead in scaling up clean technologies until they reach commercial viability.

Government support: The World Economic Forum wants governments to step up to the plate by supporting clean-tech projects in their own countries.

More than 1,000 partners are working on the 2030 Water Resources Group to ensure sustainable management of water and sanitation for all by 2050.

Circular economy: The World Economic Forum wants to see a circular economy by 2050, with a reduction in pollution of 70% by 2040.

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