Quantcast
Business

Richard Branson and Amory Lovins Join Forces to Accelerate Clean Energy Revolution

The world’s three biggest carbon emitters—the U.S., China, and the European Union—have all announced emissions goals or limits in the past few months. That’s great news, but global fossil fuel demand continues to rise, and with it, so do climate change’s risks—to the economy, to the environment, to security, to human health and to people living in poverty in areas where climate change will have a devastating impact. The most recent IPCC report (AR5) found that “warming of the climate system is unequivocal,” “human influence on the climate system is clear,” and “limiting climate change will require substantial and sustained reductions in greenhouse gas emissions.”

Combating climate change through energy efficiency, renewable energy technologies, clean transportation, and smarter land use can reap great rewards both economically and environmentally.
Photo credit: Shutterstock

The 2014 report Risky Business: The Economic Risks of Climate Change in the United States detailed the serious economic harm we can expect from climate change if we continue on our current path. But the challenge before us is about more than averting the worst economic impacts of climate change. As highlighted in the recently released Better Growth, Better Climate report from The New Climate Economy, it’s also about finding enormous economic opportunity in clean energy solutions that both tackle global warming and unlock growth opportunities for all.

The transformation to a low-carbon future is arguably the greatest business opportunity of our time. Combating climate change through energy efficiency, renewable energy technologies, clean transportation, and smarter land use can reap great rewards both economically and environmentally.

Fortunately, an energy revolution is rising all around us—enabled by smart policies in mindful markets, and led by business for profit. Efficient energy use fuels more economic activity than oil, at far lower cost, while its potential gets ever bigger and cheaper. In each of the past three years, the world invested a quarter-trillion dollars—more than the market cap of the world’s coal industry—to add over 80 billion watts of renewable capacity (excluding big hydro dams). Generating capacity added last year was 37 percent renewable in the U.S., 68 percent in China, 72 percent in Europe and 53 percent in the world. Last year, the world invested over $600 billion in efficiency, renewables, and cogeneration.

This growth is accelerating: solar power is scaling faster than cellphones. Last year alone, China added more solar capacity than the U.S. has added in 60 years. Electric vehicle sales are growing twice as fast as hybrid cars did at a comparable stage. Shrewd companies are realizing climate solutions’ enormous business opportunities—a prospect scarcely dimmed by cheaper oil, which makes only a few percent of the world’s electricity.

Global companies like IKEA, Google, Apple, Facebook, Salesforce and Walmart have committed to 100 percent renewable power. Tesla’s stock is up an astounding 660 percent over the past two years and has half the market value of General Motors Corp. The NEX index, which tracks clean energy companies worldwide, grew by 50 percent over the past two years—far outperforming the general market—while equity raisings by quoted clean energy companies more than doubled. Many of the world’s top financial firms concur that the era of coal and of big power plants is drawing to a close; Germany’s biggest utility is divesting those assets to focus on efficiency and renewables.

Yet we need to create even bigger and faster change. Which is why we are delighted to announce that our two nonprofit organizations—Rocky Mountain Institute and the Carbon War Room—are joining forces. By uniting two of the world’s preeminent nonprofit practitioners of market-based energy and climate solutions, we will help turn the toughest long-term energy challenges into vast opportunities for entrepreneurs to create wealth and public benefit for all.

United we stand to make a greater impact more quickly. Indeed, we already are. Our first combined program, the Ten Island Challenge, is making progress in six Caribbean countries. Caribbean economies suffer from some of the world’s highest electricity prices—perpetuating poverty, swelling national debts, and blocking sustainable development. They are also on the front lines of climate change, facing earlier impacts from sea-level rise, rising temperatures, and extreme weather events. Our alliance is laying the groundwork to transform these islands’ energy systems from dependence on costly imported diesel oil to cleaner, cost-effective efficiency and local renewables. This will cut electricity costs, boost private investment, and enhance and diversify local jobs. We are demonstrating that entire economies can adopt low-carbon solutions while strengthening their economies.

And islands are just the beginning as we build on our organizations’ initiatives already underway and on our new joint efforts to go further, faster together. In trucking, the learnings of our North American initiative will seed a new China program—strengthening an exciting collaboration with the Chinese government’s energy analysts that’s already showing the maximum share of efficiency and renewables that could support the forecasted economic growth of what will soon become the world’s largest economy. In cement, we will join forces to offset the energy surge from construction in the world’s fastest-growing economies. And we will combine our work on cracking the biggest nut of all: energy efficiency in buildings. Since they use nearly three-fourths of U.S. electricity, that’s the key to making electricity supply affordable, distributed, diverse, resilient, and largely renewable.

Switching to a fossil-fuel-free energy system will not only cost less, but will help re-ignite the world’s economies. In the U.S. alone, Rocky Mountain Institute’s Reinventing Fire analysis found that a 158-percent bigger economy could need no coal and oil and one-third less natural gas, yet cost $5 trillion less than business as usual. We are closer than ever before to transforming the world to a low-carbon energy system. Rocky Mountain Institute and the Carbon War Room are excited to coordinate their proven approaches to scaling transformational change worldwide. Together, we will more than double our impact on the scale and speed of the energy transformation to a clean, prosperous, secure and low-carbon world.

We will reach this better world only if we all collaborate. None of us can do this on our own.  That’s why we are thrilled to be joining forces, and hope that others will be inspired to do the same—so we can build this exciting new world of opportunities at the pace our grandchildren require.

YOU MIGHT ALSO LIKE

Obama Permanently Protects Alaska’s Bristol Bay From Oil and Gas Development

Top 10 Universities Taking the Lead on Sustainability

Adieu to Colbert: Celebrating His Top 5 Eco-Segments

Show Comments ()
Sponsored
Politics
Children fishing in Tamil Nadu, the Indian region where protests took place partly over concerns of a copper smelter's impact on fish. Abhishek.cty / CC BY-SA 4.0

Police Open Fire on Pollution Protesters in India, Killing at Least 9

A protest of a controversial copper smelter in the Tamil Nadu state on the southeastern tip of India took a violent turn Tuesday when police opened fire on demonstrators, killing at least nine, Reuters reported.

Keep reading... Show less
Popular
Eagle Creek fire. Curtis Perry / Flickr / CC BY-NC-SA 2.0

Teen Ordered to Pay $36.6 Million For Starting Oregon Wildfire

A teenager who admitted to starting the Eagle Creek Canyon wildfire in Oregon that singed approximately 48,000 acres of forest land in September was ordered to pay $36.6 million in restitution.

Hood River County Circuit Judge John A. Olson admitted that the youngster will probably never be able to pay the total amount, but was obligated under state law to issue the full award to the victims of the massive blaze, including residents whose properties burned down and the state and federal departments that fought the fire, The Oregonian reported.

Keep reading... Show less
Climate
Open Grid Scheduler / Grid Engine / Flickr / CC0 1.0

Shell Shareholders Vote Down Climate Change Proposal But Signal They Still Want Action

A vast majority of Royal Dutch Shell shareholders voted down a proposal calling on the company to set specific targets for lowering its carbon dioxide emissions on Tuesday, putting their faith in the company's internal plans to fight climate change.

Keep reading... Show less
Energy
NPCA Online / Flickr / CC BY 2.0

Atlantic Coast Pipeline to Sideline 100 Miles of Construction in Virginia and West Virginia

Builders of the controversial Atlantic Coast Pipeline told federal authorities they will delay construction along 21 miles in West Virginia and 79 miles in Virginia until the U.S. Fish and Wildlife Service (FWS) issues a revised "incidental take statement," which limits the number of threatened or endangered species that might be accidentally killed or harmed during development activities.

Lead developer Dominion Energy filed documents Tuesday with the Federal Energy Regulatory Commission in response to the 4th U.S. Circuit Court of Appeals' ruling last week. The court sided with environmental groups and their lawyers that the FWS' initial review was not clear enough in the case of the $6.5 billion pipeline and vacated one of its key permits.

Keep reading... Show less
Sponsored
Health
Solar, coal and natural gas are prominent at the Big Bend Power Station and Manatee Viewing Center parking lot in Apollo Beach, FL. Walter / CC BY 2.0

Premature Births Linked to Living Near Power Plants

Closing coal- and oil-fired power plants may help decrease the incidence of premature births in surrounding areas, according to new research.

Keep reading... Show less
Energy
Lake Oahe, the source of the Standing Rock Sioux tribe's drinking water. DVS / Flickr / CC BY 2.0

Stopping a Dakota Access Pipeline Leak in Under 10 Minutes? A Fairy Tale, Say the Standing Rock Sioux

By Susan Cosier

Nine minutes. That's the longest it would take to detect a leak and shut down the Dakota Access Pipeline (DAPL) should the crude oil within begin escaping into the North Dakota prairie or the Missouri River. At least that's what Energy Transfer Partners (ETP), the pipeline's owner, says. It's a claim that the Standing Rock Sioux tribe calls completely unrealistic given the company's "inadequate" emergency response plan.

Keep reading... Show less
Sponsored
Energy
Alberta Premier Rachel Notley announced construction of Enbridge's Line 3 pipeline replacement project in Hardisty, Alberta, Canada, Aug. 10, 2016. Marc Chalifoux / Epic Photography for the Government of Alberta, CC BY-ND 2.0

How Enbridge Helped Write Minnesota Pipeline Laws, Aiding Its Line 3 Battle Today

By Logan Carroll

The Minnesota section of Enbridge's Line 3 pipeline accounts for nearly 300 miles of the longest crude oil transport system in the world, and it is failing. The multi-billion-dollar transnational corporation has applied for a permit to replace it. Opposition from tribes in the region and environmental groups is slowing the project, but the process at times appears so tilted in Enbridge's favor that, watching the court battles and utility commission meetings, it almost feels like Enbridge wrote the rules.

Keep reading... Show less
Animals
Human activity, including domesticating livestock, has had a major impact on earth's biomass. Malcolm Morley~commonswiki

Humans and Big Ag Livestock Now Account for 96 Percent of Mammal Biomass

A first-of-its-kind study published Monday shows that, when it comes to impacting life on Earth, humans are punching well above our weight.

The study, published in Proceedings of the National Academy of Sciences, is the first ever comprehensive census of the distribution of the biomass, or weight of living creatures, across classification type and environment. It found that, while humans account for 0.01 percent of the planet's biomass, our activity has reduced the biomass of wild marine and terrestrial mammals by six times and the biomass of plant matter by half.

Keep reading... Show less
Sponsored

mail-copy

The best of EcoWatch, right in your inbox. Sign up for our email newsletter!