Replacing fossil fuels with renewables will save the global economy 71 trillion by 2050.
Replacing fossil fuels with renewables as the world’s primary source of energy will not only save the planet from dangerous levels of warming – it will also save the global economy US$ 71trillion by 2050.
This is the finding of a report, Energy Technology Perspectives 2014, released today by the International Energy Agency, which looks at the direction of the energy sector over the next 40 years.
The changes needed to keep the world within 2C of warming— a widely agreed target in efforts to tackle climate change – will benefit the global economy, confirms the report, although a “coordinated policy approach” will be required to unlock these savings.
“The USD 44 trillion additional investment needed to decarbonise the energy system in line with the 2DS [2C scenario] by 2050 is more than offset by over USD 115 trillion in fuel savings – resulting in net savings of USD 71 trillion,” its says.
http://www.rtcc.org/2014/05/12/iea-decarbonising-the-economy-will-save-71-trillion-by-2050/
