30 Jun '14, 9am

$550bn renewables investment needed annually to avert ‘catastrophic’ #climatechange

The fourth assembly of the 130 IRENA states and the European Union, to discuss cooperation in renewable energy. Image: IRENA US$550 billion of investment is needed every year till 2030 to secure the transition to sustainable energy and to keep below a 2°C rise in global temperatures, according to Adnan Amin, director general of the International Renewable Energy Agency (IRENA). “We need to double the level of investment that we are seeing today to significantly scale-up renewable energy and reduce carbon emissions to an acceptable level,” said Amin at the Renewable Energy Financing Forum's (REFF) Wall Street event in New York last week. Investment would also increase energy efficiency and see renewables account for 36% of the globe’s energy, he said. “This level of investment together with energy efficiency measures will help mitigate the catastrophic impact of climate cha...

Full article: http://www.pv-tech.org/news/us550_billion_renewables_inve...

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