Every continent in the world has enough renewable energy capacity to provide 100% renewable energy to its population
Keeping global warming below the 1.5ºC target requires not only an end to the expansion of fossil fuel production, but also a phased reduction of existing production. This is because even if the expansion of fossil fuels is stopped overnight, existing coal mines and oil and gas wells are already producing enough fossil fuels that they will not meet the 1.5 °C target.
This information is found in a report prepared by the Institute for Sustainable Futures , University of Technology , Sydney. This report has been prepared in collaboration with the Fossil Fuel Non-Proliferation Treaty.
The report further states that the world has more renewable energy resources than it needs for its energy demand. If these resources are used properly, the energy demands of every person in the world can be met. But nonetheless, the reality is that by 2030, many years, if any should be training introducing new coal, oil or gas project, even though the 35% oil and 69% will produce more coal, which is 1.5 ° C not commensurate with achieving the target.
Another interesting thing that comes out in this report is that as the cost of renewable energy has come down , so has its technical and economic relevance. Despite all the restrictions, solar and wind power can provide the world with more than 50 times the energy currently available. Rather, every continent in the world has enough renewable energy capacity to provide 100% renewable energy to its population .
Continuing to expand the fossil fuel sector will pay a serious price to humans and the environment.
Responding to the report , Associate Professor Sven Teske , Director of Research at the University of Technology Sydney, said: “National governments should establish binding limits for the amount of coal , oil and gas extracted. Renewable Energy , Its Storage Technologies and Hydrogen and Synthetic Combination of fuels will provide a reliable energy supply structure for industries. The fossil energy industry must be abolished.”
Further, Tzepora Burman, international program director at Stand.Earth and president of the Fossil Fuel Non-Proliferation Treaty Initiative , says, ” Tracking rapid shortages of oil , gas and coal and focusing on renewables production and infrastructure expansion should not be a problem.” Not only possible , but it will also save lives. ”
Finally, Sanjay Vashisht , Director, Climate Action Network South Asia , says, “There is no excuse for the rapid growth of renewable energy and ending the development of fossil fuels. At a time when renewable energy is a reliable and affordable option has emerged as a criminal waste of not only funds to expand fossil fuel, but there would be disastrous consequences for the climate and mankind, especially in poor countries. now to set an example to the G 7 leaders and shut down coal plants in their countries.”