Mr. President, the economy on a macro level relies on many indicators to assess how it is currently performing, and to predict where it will go in the future. Many factors including unemployment, corporate profits, and income inequality pose a current threat which can theoretically be controlled through policy. Climate change, however, occurs on a global scale and is more unpredictable than the other indicators as it can threaten many aspects of economic growth as well as human life. Contrary to popular belief, climate change and Global Warming do not go under the same definition nor are they synonyms. Climate change, by definition “refers to any significant change in the measures of climate lasting for an extended period of time.” In other …show more content…
It emphasizes a positive signal that this growth will be less energy-intensive than it used to be and that the growth ratio would have been even greater, if not for energy efficiency measures. The report further provides a positive outlook for renewables. It projects that renewable energy sources will account for nearly half of the global increase in power generation to 2040 and will overtake coal as the leading source of electricity. The largest share of growth in renewable energy generation can be attributed to wind power (34%), followed by hydropower (30%), and solar technologies (18%). Furthermore, during President Obama’s China trip, The United States and China have each announced their contributions to reduce their carbon footprint many months earlier than expected. The United States will double the rate at which it reduces dangerous carbon pollution from fossil fuels. China announced that they will halt the growth of emissions by 2030 -- the first time a date has ever been set -- and commit to get 20 percent of their energy from clean