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The Monetary Cost of the Non-Use of Renewable Energies

The_Monetary_Cost_of_the_Non-Use_of_Renewable_Energies

Abstract

It is often claimed that renewables are still too costly and not yet competitive with conventional energy sources. But what costs are incurred when renewable energies are not used? Every day during which potential renewable energy sources are not utilised but exhaustible fossil fuels burnt instead speeds up the depletion of these non-renewable fuels. Using burnt fossil fuels for nonenergy related purposes (e.g. in the petro-chemical industry) in the future is obviously impossible. Thus, their burning – whenever they could have been replaced by renewables – is costly capital destruction. This study concludes that, estimated conservatively, the future usage loss resulting from our current oil, gas and coal consumption is between 3.2 and 3.4 trillion US Dollars per year.

Study: Global austerity costs 2.3 trillion U.S. dollars annually

Hamburg, 14.01.2014 – As a consequence of austerity policies in many countries, millions are deprived of work and vast production opportunities remain unused. A studyby the German-based World Future Council (WFC) states the value of lost production at 2.3 trillion U.S. dollars annually. This corresponds to the gross domestic product of the United Kingdom. The Eurozone alone loses at least 580 billion Euros annually as a result of public austerity.

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The 100 Billion Dollar Question: How to finance the Green Climate Fund?

World Future Council calls for the use of Special drawing rights by the IMF

Durban, Hamburg December 7th, 2011. Today the World Future Council called upon delegates of the UNFCCC summit in Durban to consider using the Special Drawing Rights currency of the International Monetary Fund (IMF) in an innovative way in order to help developing countries switch to renewable energy. According to the concept introduced at an official side event of the UN conference today, such an approach would break the funding deadlock of the Green Climate Fund. More than 100 states had committed in Cancun to establishing this fund, which would provide 100 billion dollars per year from the major CO2 emitters for developing countries to adapt to and mitigate climate change. During the last days of the climate conference in Cancun, however, delegates could not solve the question of where the money should come from.

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COP 15: World Future Council breaks the funding deadlock

Press release – for immediate release

Copenhagen, December 16th. “Stopping climate change will cost hundreds of billions of dollars, not stopping it will cost much more – and take countless human lives”, said Jakob von Uexkull, Founder of the World Future Council and the Right Livelihood Award at a press conference in Copenhagen. In order to provide large sums for adaptation and mitigation in the developing world, he urged the creation of Special Drawing Rights by the International Monetary Fund (IMF). At the same time he argued against a similar proposal made by George Soros last week, criticizing the billionaire investor’s suggestion to make developing countries pay the money back.
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Copenhagen must signal for a Zero Carbon Economy

Press release – for immediate release

World Future Council calls on UN Climate Conference

Hamburg, December 6th. The World Future Council today called upon the delegates of next week’s UN climate conference in Copenhagen, Denmark, to surpass the pitifully poor promises to date and unleash the Zero Carbon Economy.
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A new PACT for creating jobs and saving the climate

Press release – for immediate release

WFC online platform offers toolkit for policymakers to switch to a secure and sustainable energy market

Hamburg/London, November, 11th 2009: A massive uptake of renewable energy and the application of efficient technologies is the key to fighting climate change, creating jobs and building future economies. A new online platform launched today by the World Future Council provides policymakers throughout the world with the right tools to unleash sustainable energy development in their country. A catalogue of policies and regulations to accelerate the deployment of renewable energy and to reduce the overall energy demand now helps Parliamentarians to create a better policy framework. The PACT website www.onlinepact.org that was originally launched in November 2007 has been completely rebuilt and embraces eight new policy recommendations on energy efficiency.
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World Future Council proposes a new way to finance the Renewable Energy Transition

Press release – for immediate release

World Future Council calls on UN Climate Conference

Hamburg, October 29th 2009. The World Future Council proposes the issuing of new money by the International Monetary Fund to finance the global renewable energy transition and the achievement of the Millennium Development Goals. EU leaders meeting in Brussels on October 29th – 30th should authorize the creation of necessary funds through quantitative easing. “The total upper limit for the creation of this new money should be constrained only by the need to ensure that performance targets are met and the new goods and services are produced as contracted”, says Jakob v. Uexküll, founder of the World Future Council.
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New Alliance established in Addis Ababa

Press release – for immediate release

Stakeholders come together to boost Renewable Energy in Africa

Addis Ababa, October 10th. Their aim is to speed up electrification and fight climate change at the same time: Representatives from various African countries today in Addis Ababa established the African Renewable Energy Alliance (AREA). In this Alliance, utilities, industry, policy-makers and the civil society will work together to boost the take-up of sustainable electrification and thermal power. Abel Didier Tella, Secretary General of union of African utilities UPDEA, which represents 54 private and public electricity producers and distributors in 43 African countries: “True exchange of information on new technologies as well as workable funding mechanisms for Renewable Energy is exactly what is needed. By creating this Alliance we expect to create an on-going exchange and to speed up Renewable Energy production in Africa”.
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World Future Council demands warning labels for speculative investments

Press release – for immediate release

Hamburg, 26th August 2009. The World Future Council demands warning labels on investment products to improve consumer protection, similar to the labels on tobacco products. Issuers of highly speculative investments such as certificates should be obligated to advise consumers of the risks involved with such investments. Printed labels stating “Speculations with high risk investments may ruin you” or “Financial speculation causes wage dumping” would not only strengthen consumer consciousness of financial risks but also warn them about the outcomes of unlimited speculation for people and the environment. The best example to prove that tighter consumer protection is necessary is the Lehman case where approximately 40,000 German investors lost the majority of their invested money. Speculative transactions are also ethically problematic and can have severe consequences on a global level; this is supported by last year’s price increases for wheat, soy, rice and corn which caused food crises in several countries.
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G8 Finance Ministers must support UN crisis summit

Press release – for immediate release

New York/Hamburg, 12.6. 2009. The World Future Council urges G8 Finance Ministers meeting in Lecce, Italy, today and tomorrow to help ensure the success of the UN High Level summit on The World Financial and Economic Crisis and its Impact on Development. The summit is held on June 24-26 in New York City.
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