AN ENERGY REVOLUTION IS POSSIBLE

This executive summary by Friends of the Earth International argues that the financial resources required to transition Africa, Latin America, and parts of Asia to 100% renewable energy by 2030 already exist in the fortunes of the world's wealthiest individuals. The document emphasizes that the primary barrier to this energy revolution is a lack of political will rather than a lack of capital, and calls for a systemic transformation that prioritizes democratic ownership and social justice over mere technological substitution.

• The personal fortunes of the 782 wealthiest people globally, totaling approximately $5,149 billion, are sufficient to fund a transition to 100% renewable energy by 2030 for Africa, Latin America, and much of Asia.
• Specific subsets of global wealth could cover regional transitions: the fortunes of the 53 richest people could power all of Africa with 100% renewable energy by 2030, while the wealth of the 32 richest people could power Latin America by the same date.
• The total extra investment required to achieve 100% renewable electricity by 2030 in the selected developing regions is $5,148 billion, based on electricity demand projections from the International Energy Agency's World Energy Outlook 2014.
• A global transition to 100% renewable electricity by 2050 would result in fuel cost savings of $42 trillion, suggesting that higher upfront investment costs are offset by long-term savings.
• A just energy revolution must be guided by principles including energy access as a basic human right, direct democratic control, the use of locally-appropriate technologies, and the requirement for free, prior and informed consent from communities to prevent human rights violations like land grabbing.
• The proposed renewable energy mix for the global south would see 62-88% of energy coming from variable renewables (wind, solar PV, and concentrating solar thermal) with storage, while the remainder is supplied by geothermal, existing hydro dams, and minimal bioenergy (2-4%).
• To kickstart the energy transformation, the document recommends ending fossil fuel subsidies, phasing out destructive energy sources, reducing energy consumption in developed countries, and requiring developed governments to repay 'climate debt' through unconditional funding for developing countries.

APA

Hearps, P., & Cossar-Gilbert, S. (2015). AN ENERGY REVOLUTION IS POSSIBLE. Friends of the Earth International. https://www.foei.org/wp-content/uploads/2021/05/foe-energy-revolution-reportSUMMARY-web.pdf

Chicago

Hearps, Patrick, and Sam Cossar-Gilbert. AN ENERGY REVOLUTION IS POSSIBLE. Friends of the Earth International, 2015. https://www.foei.org/wp-content/uploads/2021/05/foe-energy-revolution-reportSUMMARY-web.pdf.

Wikipedia

{{cite report |last1=Hearps |first1=Patrick |last2=Cossar-Gilbert |first2=Sam |title=AN ENERGY REVOLUTION IS POSSIBLE |publisher=Friends of the Earth International |date=2015 |url=https://www.foei.org/wp-content/uploads/2021/05/foe-energy-revolution-reportSUMMARY-web.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{hearps2015energy, author = {Hearps, Patrick and Cossar-Gilbert, Sam}, title = {{AN ENERGY REVOLUTION IS POSSIBLE}}, institution = {Friends of the Earth International}, year = {2015}, url = {https://www.foei.org/wp-content/uploads/2021/05/foe-energy-revolution-reportSUMMARY-web.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }