CALGARY — A new report says if high interest rates persist, it will be harder and more costly for society to transition to a net-zero economy.
The report by global consultancy Wood Mackenzie says high interest rates are putting disproportionate pressure on renewable energy developers as well as on emerging technologies like carbon capture and storage and hydrogen.
The new and developing industries will require significant capital investments that will be more expensive because of the high cost of borrowing.
Wood Mackenzie says by comparison, more established industries such as oil and gas are relatively unaffected by higher interest rates.
The report says governments need to offset the burden
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