Renewable energy will invigorate the economy of France

The Prime Minister of France, Jean Castex, inaugurated a strategical plan for the country which renewable energy and environmental policies as the way for the state to recover from the pandemic.

The plan stipulates renewables and environmental sustainability as a suitable plan to expand and rejuvenate the economy. The country is proposing an investment of 100 billion euros on the environment, industrial rivalry, and job creation to reinstate the economy back on its feet. This plan by the prime minister will inform the return to citizens’ work and challenge the country to be ready for such situations in the future.

France’s economy is one of the positively affected, recording a general decrease of about 10 percent. Additionally, the country was still nursing from the 2008 Global Financial Crisis with slumpy economic expansion and many unemployed young people. The March lockdown added salt to the injuries rendering a substantial drop in the revenue of the country. The closure of most businesses meant reduced taxable activities and therefore increasing the insufficiency in the country.

The prime minister’s plan, dubbed “France Relaunch,” will inform a turnaround for the economy and open up employment opportunities for the nation’s citizens. The program allocates enough funds for environmentally-oriented projects like renewable energy projects and electric vehicles instead of ICE cars.

The plan will realize the Paris agreement’s environmental goals to prove the country as an exemplary nation to stick to the regulations in the contract. The plan ventures clean energy technologies to ensure that the various sectors adjust and align themselves with this new system. France is encouraging foreign investment in renewable energy projects and emphasizing its citizens’ need to learn from the foreign expatriates.

France’s minister for Ecological Transition, Barbara Pampili, explained that the strategy forms France’s core in switching to clean energy regulations. Castex admitted that the government must heavily invest in this strategy to alleviate the high rate of joblessness, poverty, and crime.

Nevertheless, environmental activists think that this plan is over ambitious and can be a channel for corrupt leaders to siphon funds without implementing the proposed objectives. The activists have also cited ambiguity in the method whereby they view the government’s help to businesses and industries as an added expense. Activists argue that the insufficient ecological infrastructure in France will hinder the implementation of the plan’s strategies.

To conclude, the prime minister’s plan will incur vast economic costs, which the government will blame itself if the project does not materials within the scheduled timeframe. Nevertheless, the French government will have made some steps towards the realization of the net-zero emissions policy.