Another major finding from last week’s landmark report from the NewClimate Institute: China, the European Union, and the United States could save $500 billion per year on fossil fuel imports by switching to 100% renewable energy.
“Yes, that’s $500 billion per year,” CleanTechnica comments. After 10 years, that would be $5 trillion. How would one even begin to calculate the positive effects in those huge economies of saving trillions of dollars per decade?”
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“Over 100 countries have thrown their support behind a phase out of fossil fuel emissions and it’s not hard to see why,” said Mohamed Adow, chair of the Beirut-based Climate Action Network International, which commissioned the report.
“Investing in renewable energy has been wrongly described as only a ‘green’ thing to do, or one that is chiefly motivated by a desire to protect the environment,” Richardson writes. “It seems that we are very gradually waking up to the fact that renewable energy is better for human health,” and “the economic benefits are also substantial.”