The fatal floods in Germany in recent weeks have put the impacts of climate change firmly in the spotlight again.
Charles Dumas, chief economist at U.K.-based investment research firm TS Lombard, said that action on climate change is often criticized as moving too slowly.
In a recent note, Charles Dumas, chief economist at U.K.-based investment research firm TS Lombard, said that action on climate change is often criticized as moving too slowly. However, with governments increasing spending to aid their post-Covid economies, they may start catching up. Dumas said that as COP26 approaches, governments need to understand their key priorities, and among them should be infrastructure investments as numerous technological and engineering challenges continue to obstruct renewable energy.
"There's huge variation with sunny days in winter and sunny days in the middle of summer so the intermittency takes on a very big seasonal aspect," Dumas said. "The issue of transmission technology is really major. If you want Chad to be the new Saudi Arabia, because of the Sahara Desert there's a lot of sun there, but you want the electricity to be used in Europe then you're talking about some expensive processes and processes needing a lot of research and a lot of further investment."
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