06 September 2012
To do that, the private sector must be involved, says a new report released today by the WBGU, an independent scientific advisory board to the German government. IIASA Deputy Director Prof. Nebojsa Nakicenovic is a member of the WBGU and contributed to the report.
The report, entitled Financing the Global Energy-System Transformation, shows that there is plenty of private capital available to finance a switch to sustainable energy. But in order to make investment more attractive, the report says, governments must create more incentives for people to invest in sustainable energy, and reduce barriers to investment. At the same time, the researchers say, subsidies for fossil fuels must be drastically cut. The report also encourages policymakers to look beyond national boundaries, and provide support for developing countries to switch to sustainable energy sources.
Energy investment needs defined in the WBGU report were based on the Global Energy Assessment (GEA), an IIASA-led initiative that brought together over 300 scientists worldwide to assess global energy challenges and solutions.
For more information see the announcement on the WBGU Web site: http://www.wbgu.de/en/press-appointments/press-releases/2012-09-06-press-release/
Last edited: 08 September 2014
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