13 Jun '12, 9pm

Global Renewable Energy Investment Must Double by 2020, Says IEA

Getting ever louder in its calls for the world to get serious about climate change, the International Energy Agency (IEA) is also increasingly concrete about what needs to be done. Global investments in renewable energy must double by 2020 to $23.9 trillion to keep global temperatures from rising beyond 2°C, says IEA in its new book, Energy Technology Perspectives 2012. And they must grow to $140 trillion by 2050. That's $36 trillion more than currently projected where controlling emissions is not a priority - the equivalent of $130 per person each year. It sounds like an enormous amount of money, but the plan more than pays for itself. By 2025, reduced spending for fossil fuels would outweigh the investment, and for every $1 invested, $3 would be saved by 2050, adding up to at least $100 trillion in savings. "The window of opportunity is closing rapidly on achieving the 2...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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