Greenpeace offers ‘blueprint' for climate, economic crises

Aggressively investing in renewable power generation and energy efficiency could create a 360-billion-dollar (285-billion-euro) industry providing half of the world's electricity, according to the study by Greenpeace and the European Renewable Energy Council (EREC) presented in Berlin.

This would slash over 18 trillion dollars in future fuel costs, allow greenhouse gas emissions to peak and then fall by 2015, and reduce average carbon emissions per person from today's four tonnes to around one tonne by 2050, it said.

"Especially in the context of today's economic instability, investing in renewable energy technologies is a "win-win-win' scenario: a win for energy security, a win for the economy and a win for the climate," the green pressure group said.

Moreover, Greenpeace says all this can be achieved while ensuring economies in China, India and other developing nations have access to the energy they need.

"Countries like China and India are well placed to take the enormous investment opportunity presented by the energy revolution," said G. Ananthapadmanabhan, Greenpeace International programme director.

"The energy revolution is key to them climate-proofing their development."

Objections by developing nations have been a sticking point in global efforts to set targets for emissions reductions, with these countries arguing that making pledges on energy efficiency and switching to renewable energy sources would cripple their rise from poverty.

China and India have called on developed countries to lead the way in cutting CO2 emissions, while the United States and Japan say these industrialising giants must also agree to binding commitments.