According to a new study, green energy is the only sustainable solution in eradicating poverty for a large number of the world’s poor and preventing “a climate disaster.”

The study, released by the Institute for Atmospheric and Climate Science, warns that the widespread use of clean energy, as opposed to fossil fuels, is the only way to prevent further damage to the environment and to eradicate poverty throughout the world. The World Bank, International Energy Agency, and other major institutions have also given similar warnings.

The UN has implemented a program called the Sustainable Energy for All Initiative (SE4All) that aims to “double the rate of improvement in energy efficiency” by 2013, double the amount of renewable energy used, and bring electricity to more of the world’s poor. Joeri Rogelj, who worked on the study, says that meeting these goals and also preventing widespread deforestation is the only way to prevent a climate crisis.

Rogelj’s study confirmed that the SE4All initiative’s funding would actually cost less than the current subsidies the fossil fuel industry is given, which are estimated to be about $523 billion in 2011 alone. Comparatively, the funding for SE4All is slated to be around $30 to $40 billion per year. The study also asserts that the conversion to clean energy would also aid in making the Millennium Development Goals of downsizing poverty and promoting international development.

Thus far, several countries are on track to switch much of their energy sources to renewables – Iceland uses 81% clean energy and Scotland has a mandated 100% clean energy by 2020. Denmark is also following suit to become 100% dependent on renewable energy in the near future.

The study concludes that “achieving the three SE4ALL objectives could put the world on a path toward global climate protection,” and that getting rid of fossil fuels would eliminate the health hazards associated with pollution in many developing countries and low-income communities, as 1.5 billion people worldwide still live without electricity.

– Christina Kindlon

Source: Business Mirror