Connect with us

Hi, what are you looking for?

CleanTechnica
Ceres Clean Trillion Campaign urges investment in clean tech

Clean Power

Net Savings Of $71 Trillion By 2050 With Transition To Renewable Energy

The transition to a global renewable energy economy could save $71 trillion by the year 2050, according to an IEA report.

Or, to say that another way, $44 trillion in investment by the year 2050 would translate to about $115 trillion in energy savings ($71 trillion in net savings), as well as helping to limit the extent of CO2-induced warming.

Given the strong impetus there, what’s stopping the transition? According to Ceres — a network of investors representing trillions of dollars in assets — nothing! Just a lack of solid actions taken by the key players — or, perhaps, the fact that “businesses have not sufficiently stepped up their leadership.”

Of course, the longer this transition waits, the more expensive it will get, as the IEA notes: “The longer we wait, the more expensive it becomes to transform the global energy system.”

As Ceres writes: “This year Ceres has rallied businesses, investors and policymakers around its new Clean Trillion campaign. The fact that the clean energy investment goal is now $44 trillion by 2050 – $8 trillion higher than the $36 trillion in the previous IEA analysis – gives the campaign even more urgency. It is clear that we need to raise our collective ambition. Company efforts to establish programs to reduce greenhouse gas emissions through energy efficiency and renewable energy sourcing are lagging far behind what’s needed.”

The analysis assessed the sustainability performance of some (613) of the largest publicly traded companies in the US — altogether representing around 80% of the total market capitalization of all public companies in the US.

Some notable findings:

  • 71% of companies have at least some activities in place to reduce greenhouse gas emissions, but only 35% have established time-bound targets for reducing greenhouse gas emissions.
  • In terms of renewable energy, 37% of companies have implemented a program, while only 6% have quantitative targets to increase renewable energy sourcing.”

Hmm… Hopefully things will start picking up, but hard to say.

 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 

Advertisement
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

Comments

You May Also Like

Energy Efficiency

Improving the energy efficiency of everyday appliances and equipment will be critical on the path to net zero emissions by 2050. Just four appliances...

Buildings

Originally published on RMI.org. By John Matson The world leaders of the Group of Seven, better known as G7, released a long communique following their recent meeting...

Climate Change

Many of the oil and gas industry’s top emitters of methane are small, little-known companies, a new analysis of US Environmental Protection Agency (EPA)...

Clean Power

Courtesy of NRDC. By Sujatha Bergen & Susan Casey-Lefkowitz  President Biden is set to release his first detailed budget proposal. This blueprint for government spending is an...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.