The world could completely phase out fossil fuels and use only renewable energy by 2050, activist group Greenpeace concluded in a new report.
In a joint project with the German Aerospace Centre, Greenpeace concluded that the 2050 timeline would create jobs and be cost competitive when compared with a continued reliance on fossil fuels.
“I urge all those who say ‘it can’t be done’ to read this report and recognize that it can be done and must be done for the benefit of people around the world,” he said.
Greenpeace said it’s releasing the report to precede the climate-pact talks this December in Paris. It hopes to inform world leaders and convince them that a dramatic shift toward renewable energy is possible.
The transition would not be cheap, the group said. It would cost about $1 trillion per year to invest in the generating capacity, transmission and other infrastructure.
But the fuel savings over that same time period would be $1.07 trillion a year, Greenpeace said.