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Investments of $ 515 billion per year needed to tackle climate change
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Clean energy investments of $515 billion per year is needed or carbon
emissions will reach levels deemed unsustainable by scientists.
(AP Photo/Virginia Mayo)
Clean energy investments of $515 billion per year is needed between now and 2030 or carbon emissions will reach levels deemed unsustainable by scientists. That is at least the conclusion participants in the World Economic Forum in Davos, Switzerland make. Calling for global cooperation representatives and members of the World Economic Forum, Friday, issued a statement warning against complacency in the UN climate talks and urging the link of economy and climate agendas in 2009.
“Enormous investment in energy infrastructure is required to address the twin threats of energy insecurity and climate change”, said Max von Bismarck and Anuradha Gurung from the World Economic Forum, authors of the report Green Investing: Towards a Clean Energy Infrastructure. “In the light of the global financial crisis, it is crucial that every dollar is made to multitask to create a sustainable low-carbon economy”.
The World Economic Forum identifies onshore wind, offshore wind, solar photovoltaic, solar thermal electricity generation, municipal solar waste-to-energy, sugar-based ethanol, geothermal power, and cellulosic and second-generation biofuels, as significantly contributing in the move to a clean energy infrastructure.
The World Economic Forum also reported that clean energy investment increased $110 billion between 2004 and 2008, from $30 billion to $140 billion, and that the investments diversified geographically. Developing countries attracted 23% of asset financing 2007, compared to 13% in 2004.
The World Economic Forum is a Geneva based non-profit, non-partisan international organization founded in 1971.
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