This article originally appeared on Common Dreams.
The personal fortunes of just 782 of the world’s wealthiest people could power half the world—Africa, Latin America, and “most of Asia”—with 100 percent renewable energy within 15 years, according to a new report to be published Monday.
Broken down by continent, it would take the wealth of just 53 rich people to power all of Africa, and a mere 32 prosperous people could plug in the vast majority of Latin America.
Though the analysis from Friends of the Earth International (FOEI), a copy of which was shared withCommon Dreams ahead of its release next week, does not argue “that the wealth of these particular individuals can or should be directly used to drive the needed energy transformation,” the figures do reveal “a gross injustice” when it comes to global inequality that should serve as “a shocking and stark reminder that the finance for an energy transformation is certainly available.”
However, the report points out: “The political will to drive the transformation is, on the other hand, shockingly absent,” as evidenced by “weak pledges of emission reductions”issued ahead of COP21 climate change negotiations scheduled to begin later this month.… Read the rest