Did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies?
This paper develops measures of the diffusion of a comprehensive range of low-carbon technologies in 35 countries from 2019 to 2022 using text analysis of job postings and earnings calls transcripts. It documents a rapid acceleration in the diffusion of low-carbon technologies in 2022, driven by technologies related to renewable energy, vehicles, thermal performance, and electrical generation and storage. Rapid growth occurred in three quarters of the countries studied and 228 of 300 subnational regions, although was fastest in Europe. Hiring for roles related to low-carbon technologies in these 35 countries doubled between 2019 and the end of 2022, for example. It studies the role of the global energy crisis in triggering this accelerated technology diffusion, focusing on 16 mainly advanced economies. It finds that establishments in countries that had a higher pre-crisis dependence on imports of natural gas, and were thus more exposed to the price shock, differentially increased hiring for low-carbon technology related roles from March 2022 onwards. Within more exposed countries, establishments with a higher pre-crisis energy intensity also saw a differential increase in hiring relative to less energy intensive ones.
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Format: | Working Paper biblioteca |
Language: | English en_US |
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Washington, DC: World Bank
2024-05-20
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Subjects: | TECHNOLOGY DIFFUSION, LOW-CARBON TRANSITION, CLEAN ENERGY, GLOBAL ENERGY CRISIS, JOB POSTINGS, ENERGY PRICES, RUSSIA-UKRAINE WAR, AFFORDABLE AND CLEAN ENERGY, SDG 7, DECENT WORK AND ECONOMIC GROWTH, SDG 8, |
Online Access: | http://documents.worldbank.org/curated/en/099317105202458024/IDU1ef55d686171ac14f7a18da017eefda316dbf https://hdl.handle.net/10986/41567 |
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dig-okr-10986415672024-05-23T02:24:54Z Did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies? Bastos, Paulo Greenspon, Jacob Stapleton, Katherine Taglioni, Daria TECHNOLOGY DIFFUSION LOW-CARBON TRANSITION CLEAN ENERGY GLOBAL ENERGY CRISIS JOB POSTINGS ENERGY PRICES RUSSIA-UKRAINE WAR AFFORDABLE AND CLEAN ENERGY SDG 7 DECENT WORK AND ECONOMIC GROWTH SDG 8 This paper develops measures of the diffusion of a comprehensive range of low-carbon technologies in 35 countries from 2019 to 2022 using text analysis of job postings and earnings calls transcripts. It documents a rapid acceleration in the diffusion of low-carbon technologies in 2022, driven by technologies related to renewable energy, vehicles, thermal performance, and electrical generation and storage. Rapid growth occurred in three quarters of the countries studied and 228 of 300 subnational regions, although was fastest in Europe. Hiring for roles related to low-carbon technologies in these 35 countries doubled between 2019 and the end of 2022, for example. It studies the role of the global energy crisis in triggering this accelerated technology diffusion, focusing on 16 mainly advanced economies. It finds that establishments in countries that had a higher pre-crisis dependence on imports of natural gas, and were thus more exposed to the price shock, differentially increased hiring for low-carbon technology related roles from March 2022 onwards. Within more exposed countries, establishments with a higher pre-crisis energy intensity also saw a differential increase in hiring relative to less energy intensive ones. 2024-05-20T16:29:37Z 2024-05-20T16:29:37Z 2024-05-20 Working Paper http://documents.worldbank.org/curated/en/099317105202458024/IDU1ef55d686171ac14f7a18da017eefda316dbf https://hdl.handle.net/10986/41567 English en_US Policy Research Working Paper; 10777 CC BY 3.0 IGO https://creativecommons.org/licenses/by/3.0/igo/ World Bank application/pdf text/plain Washington, DC: World Bank |
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TECHNOLOGY DIFFUSION LOW-CARBON TRANSITION CLEAN ENERGY GLOBAL ENERGY CRISIS JOB POSTINGS ENERGY PRICES RUSSIA-UKRAINE WAR AFFORDABLE AND CLEAN ENERGY SDG 7 DECENT WORK AND ECONOMIC GROWTH SDG 8 TECHNOLOGY DIFFUSION LOW-CARBON TRANSITION CLEAN ENERGY GLOBAL ENERGY CRISIS JOB POSTINGS ENERGY PRICES RUSSIA-UKRAINE WAR AFFORDABLE AND CLEAN ENERGY SDG 7 DECENT WORK AND ECONOMIC GROWTH SDG 8 |
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TECHNOLOGY DIFFUSION LOW-CARBON TRANSITION CLEAN ENERGY GLOBAL ENERGY CRISIS JOB POSTINGS ENERGY PRICES RUSSIA-UKRAINE WAR AFFORDABLE AND CLEAN ENERGY SDG 7 DECENT WORK AND ECONOMIC GROWTH SDG 8 TECHNOLOGY DIFFUSION LOW-CARBON TRANSITION CLEAN ENERGY GLOBAL ENERGY CRISIS JOB POSTINGS ENERGY PRICES RUSSIA-UKRAINE WAR AFFORDABLE AND CLEAN ENERGY SDG 7 DECENT WORK AND ECONOMIC GROWTH SDG 8 Bastos, Paulo Greenspon, Jacob Stapleton, Katherine Taglioni, Daria Did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies? |
description |
This paper develops measures of the
diffusion of a comprehensive range of low-carbon
technologies in 35 countries from 2019 to 2022 using text
analysis of job postings and earnings calls transcripts. It
documents a rapid acceleration in the diffusion of
low-carbon technologies in 2022, driven by technologies
related to renewable energy, vehicles, thermal performance,
and electrical generation and storage. Rapid growth occurred
in three quarters of the countries studied and 228 of 300
subnational regions, although was fastest in Europe. Hiring
for roles related to low-carbon technologies in these 35
countries doubled between 2019 and the end of 2022, for
example. It studies the role of the global energy crisis in
triggering this accelerated technology diffusion, focusing
on 16 mainly advanced economies. It finds that
establishments in countries that had a higher pre-crisis
dependence on imports of natural gas, and were thus more
exposed to the price shock, differentially increased hiring
for low-carbon technology related roles from March 2022
onwards. Within more exposed countries, establishments with
a higher pre-crisis energy intensity also saw a differential
increase in hiring relative to less energy intensive ones. |
format |
Working Paper |
topic_facet |
TECHNOLOGY DIFFUSION LOW-CARBON TRANSITION CLEAN ENERGY GLOBAL ENERGY CRISIS JOB POSTINGS ENERGY PRICES RUSSIA-UKRAINE WAR AFFORDABLE AND CLEAN ENERGY SDG 7 DECENT WORK AND ECONOMIC GROWTH SDG 8 |
author |
Bastos, Paulo Greenspon, Jacob Stapleton, Katherine Taglioni, Daria |
author_facet |
Bastos, Paulo Greenspon, Jacob Stapleton, Katherine Taglioni, Daria |
author_sort |
Bastos, Paulo |
title |
Did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies? |
title_short |
Did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies? |
title_full |
Did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies? |
title_fullStr |
Did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies? |
title_full_unstemmed |
Did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies? |
title_sort |
did the 2022 global energy crisis accelerate the diffusion of low-carbon technologies? |
publisher |
Washington, DC: World Bank |
publishDate |
2024-05-20 |
url |
http://documents.worldbank.org/curated/en/099317105202458024/IDU1ef55d686171ac14f7a18da017eefda316dbf https://hdl.handle.net/10986/41567 |
work_keys_str_mv |
AT bastospaulo didthe2022globalenergycrisisacceleratethediffusionoflowcarbontechnologies AT greensponjacob didthe2022globalenergycrisisacceleratethediffusionoflowcarbontechnologies AT stapletonkatherine didthe2022globalenergycrisisacceleratethediffusionoflowcarbontechnologies AT taglionidaria didthe2022globalenergycrisisacceleratethediffusionoflowcarbontechnologies |
_version_ |
1802820992685309952 |