New global energy strategy tackles climate change saving USD 18 trillion in fuel costs

Wednesday, October 29, 2008
Posted in Global Warming | Tagged Global Warming

Sydney, Australia - Aggressive investment in renewable power generation and energy efficiency could save the global economy USD 750 billion a year in fuel costs, according to a report released by Greenpeace today. Greenpeace climate and energy Julien Vincent said the Energy [R]evolution report shows how investing in renewable power now will stimulate the economy by creating a global industry worth USD 360 billion a year.
“Especially in the context of today’s economic instability, investing in renewable energy technologies is a ‘win-win-win’ scenario: a win for energy security, a win for the economy and a win for the climate,” Mr Vincent said.The projected cost to keep burning coal for electricity is USD 15.9 trillion over the next 22 years. This figure would easily cover the cost of igniting the renewable power industry, allowing it to deliver half the world’s energy.

The Energy [R]evolution shows that the average carbon emissions per person can be cut from today’s four tonnes to around one tonne by 2050, while still ensuring developing nations have access to the energy that they need in order to grow.

Greenpeace recently released specific modelling, showing that 40% of Australia’s power can come from renewable sources by 2020. Immediate investment in renewable power would allow Australia to phase out polluting coal-fired electricity by 2030 and keep energy costs low.

“While politicians continue to fight about the starting date of an emissions trading scheme, we’re already seeing environmental damage that tells us we are on the brink of catastrophic climate change,” Mr Vincent said.

“It is about time the Federal Government’s policies live up to their rhetoric.

“The Energy [R]evolution gives the government a clear plan of action.”

The report: ‘Energy [R]evolution: A Sustainable World Energy Outlook’ - produced by the European Renewable Energy Council (EREC) and Greenpeace International - provides a practical blueprint for rapidly cutting energy-related CO2 emissions in order to help ensure that greenhouse gas emissions peak and then fall by 2015.

Notes

Copies of the “Energy [R]evolution: A Sustainable World Energy Outlook” report can be downloaded at: www.energyblueprint.info

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