The Climate Crisis Is the Biggest Threat to Humanity, Says Renewable Energy Exec

The world has come to realize that the climate crisis is the biggest threat to humanity, and worldwide there is an unprecedented energy revolution, Gilad Yavetz, CEO of Enlight Renewable Energy Ltd., said Wednesday. Yavetz spoke at Calcalist's Industry and Economy conference held in Tel Aviv in collaboration with Israeli oil refining company Bazan Group.

According to Yavetz, climate change and the extreme weather conditions it brings will cause trillions of dollars in damages to the global economy. In Israel, he said, air pollution is estimated to generate NIS 8.8 billion (approximately $2.5 billion) in annual damages and is linked to 2,240 deaths per year. "Israel is at the bottom of the list of developed countries as far as air pollution goes, and half of that pollution is caused by electricity production," Yavetz said, adding that rising temperatures and changing climate will only contribute to increased use of electricity in the country.

The world is moving towards renewable energy, Yavetz said, and that is also because renewable energy is cheaper.

"In Israel today, only 5% of electricity is produced using renewable energy," Yavetz said. "If there is no immediate change in our attitude, we will wake up to a reality of an expensive, polluting, and archaic energy sector. Israel must change its course to keep up with the world: reduce bureaucratic hurdles, increase competition, and promote clean air technologies. These actions will lead to energy security and lower energy costs."

According to Yavetz, Israel must commit to a goal of 35% of energy from renewable sources by 2030, and 75% by 2040.