“The clean energy sector has roared back from flat recessionary levels, increasing 30% from 2009 to achieve a record $243 billion worth of finance and investment in 2010”
G-20 Investment: Powering Forward, Edition 2010
Developing the world’s potential for using renewable energy will drive the security of our energy supply, reduce our dependence upon fuel imports from overseas, reduce greenhouse gasses, improve environmental protection, facilitate the need to decouple economic growth from depleting finite resource use, to expand industry through the creation of jobs, and to further boost our shift towards a knowledge-based society. Reshaping our energy future will depend upon breaking our long time sole reliance upon fossil fuels that will require the deliverance of a variety of clean energy sources, technical solutions and policies. There is no single new energy source that can be relied upon, and it is clear that to deliver a low carbon economy that governments are demanding, our energy means will be derived from a true mixture of wind, biofuels, solar and hydro energy to name a few. Whilst oil will still be used, the burden of our one time sole reliance has been greatly diminished.
Above all, addressing the challenges that the impacts of climate change presents to the economy requires clarity and cohesion on these inter-related issues. It is clear that the agendas of development, economic growth, energy and climate change must be addressed in an integrated manner alongside the full consideration of other global development strategies and priorities. There is no single solution that can be depended upon to implement the necessary changes that are required to achieve sustainable reductions in greenhouse gas emissions. Whilst such changes take time to implement, businesses, governments and society itself must be engaged in the process via focusing on long-term solutions.
Excluding research and development, investments into clean and renewable energy across the globe are 630% greater than eight years ago, and there have also been significant shifts in global competition as investment is undergoing a rapid transition from established markets in the developed countries to dynamic, emerging markets within the developing world where the demand for energy is becoming ever greater.