The economic opportunities of climate change

Israel came in first among 40 countries in the Global Clean-Tech Innovation Index 2014. As a start-up nation and a global leader in innovation, Israel can make a major contribution to international climate change efforts by developing cutting-edge technologies.

 The economic opportunities of climate change

 

Copyright: Ministry of Environmental Protection

(Israel Ministry of Environmental Protection)

Israel has long been identified as a global leader in innovation in a variety of sectors. In recent years, Israel has also begun to lead in the cleantech sector. According to the Global Clean-Tech Innovation Index 2014, Israel came in first among the forty countries that were ranked for the first time in a unique index especially developed for the cleantech sector.

Cleantech Countries Innovation Index

 The economic opportunities of climate change

Source: Global Cleantech Innovation Index 2014

The analysis reveals that Israel demonstrates exceptional capabilities in the cleantech sector in generating high-impact emerging start-ups as well as a high level of business sophistication, a creative and entrepreneurial approach, strong venture capital activity and a high number of environmental patents. These data accord with a 2013 publication by the Ministry of Economy which puts the number of cleantech companies operating in Israel at more than 350, with the exports of the 200 leading Israeli companies in the water sector increasing from $600 million in 2006 to $1,988 million in 2013, based on 2014 data.

A new, binding agreement on greenhouse gas (GHG) emissions, applicable to all countries, is expected to be adopted at the Paris Climate Conference. Israel has committed to reduce per capita greenhouse gas emissions to 7.7 tCO2e (tonnes of carbon dioxide equivalent) by 2030. This constitutes a reduction of 26% below the 2005 GHG emissions level. These reductions will come from sectors such as: electricity, industry, transportation, residential and commercial buildings, waste, and agriculture.

GHG emissions reduction is expected to bring a host of benefits to the economy in Israel, estimated at NIS 100 billion (about $26 billion), and over 80% of the abatement potential was found to be cost-effective by the interministerial committee. Benefits include energy security, energy savings at the national, industrial, municipal and household level, pollution abatement, new employment possibilities and investment leveraging – all of which promise to increase the resilience and competitiveness of the Israeli economy.

  • Creation of new jobs: At present more than 350 cleantech companies in Israel offer a wide range of climate solutions. New business and employment opportunities are expected from the continued development of the cleantech sector that can provide technological solutions for climate change.
  • Pollution abatement: GHG emissions reduction translates into reduction in pollution and provision of a cleaner and healthier environment, reducing air-pollution related mortality and morbidity.
  • Innovation for economic growth: Israel came in first among 40 countries that were ranked for the first time in the Global Clean-Tech Innovation Index 2014.
    As a start-up nation and a global leader in innovation, Israel can make a major contribution to international climate change efforts by developing and applying cutting-edge technologies for mitigation and adaptation such as renewable energy, geothermal energy, energy from waste, fossil fuel replacement, energy-efficient adaptive solutions, water and wastewater treatment and recycling, ICT-based water management solutions including smart water grids, and agro-technology and irrigation innovations.

Source