LEADERSHIP
challenge for current and future generations across the planet .” The group hasn ’ t yet put a total dollar amount on its level of investment , but acknowledged it will be focusing its resources on government-funded innovation that comes from countries involved in the Mission Innovation initiative . Global investment in clean energy rose to US $ 270 billion last year , which is the first significant increase after a three-year lull in investment . China led the way with $ 89 billion in new money for renewables , followed by the U . S . at $ 51 billion .
The tumbling costs of renewables
— solar , for example , has fallen by 70 per cent since 2009 — has helped increase installation , although experts have warned that dependency upon fossil fuels will need to be wound back more quickly if the world is to avoid dangerous climate change fueled by greenhouse gases .
According to the Intergovernmental Panel on Climate Change , most of the world ’ s electricity can — and must — be produced by low-carbon sources by 2050 . The panel said that renewables needed to grow from a 30 per cent share today to 80 per cent of power generation by 2050 , with fossil fuel energy
12 February 2016