Global Green En­ergy In­vest­ments Grow­ing But Vastly More Needed

Trillions - - From The Publisher -

A new UN funded re­port by Frankfurt School-unep Col­lab­o­rat­ing Cen­tre for Cli­mate & Sus­tain­able En­ergy Fi­nance and Bloomberg New En­ergy Fi­nance de­tails the in­vest­ments made in re­new­able en­ergy in 2015.

The re­port shows that global green en­ergy in­vest­ments in 2015 reached nearly $286 bil­lion, more than six times more than in 2004. This means that more than half of all added power gen­er­a­tion ca­pac­ity came from re­new­ables last year. In com­par­i­son, the U.S. War In­dus­try will cost Amer­i­can tax­pay­ers about $1 tril­lion – just this year.

Ac­cord­ing to UN Sec­re­tary-gen­eral Ban Ki-moon, “In spite of these pos­i­tive find­ings, to keep global tem­per­a­ture rise well be­low 2 de­grees and aim for 1.5 de­grees, we must im­me­di­ately shift away from fos­sil fu­els.“

We are not im­me­di­ately shift­ing away fos­sil fu­els and many sci­en­tists be­lieve that it may al­ready be too late and that we are past the tip­ping point.

Since we can’t seem to stop spew­ing tens of bil­lions of tons of car­bon into the at­mop­shere each year we will need to some­day soon re­move it from the at­mos­phere. Car­bon cap­ture tech­nol­ogy is still in its in­fancy and is not yet widely uti­lized. The devel­op­ment of car­bon con­ver­sion tech­nol­ogy is be­ing en­cour­aged some­what by the pal­try $20M NRG COSIA Car­bon XPRIZE that “chal­lenges the world to reimag­ine what we can do with CO2 emis­sions by in­cen­tiviz­ing and ac­cel­er­at­ing the devel­op­ment of tech­nolo­gies that con­vert CO2 into valu­able prod­ucts”.

The fail­ure of the Paris cli­mate talks last year to im­pose any­thing more than vol­un­tary cli­mate goals in­stead of the nec­es­sary global car­bon tax demon­strated that car­bon fuel com­pa­nies still call the shots, our gov­ern­ments are in­ca­pable of act­ing in our best in­ter­ests and that we the peo­ple need to take ac­tion in our own lives to not just re­duce car­bon emis­sions but to adapt to cli­mate change while we still can.

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