AN ENERGY REVOLUTION IS POSSIBLE

This executive summary by Friends of the Earth International argues that the global revenue lost to tax havens is sufficient to fund a transition to 100% renewable energy for half the world by 2030. It focuses on the financial feasibility of an 'Energy Revolution' in Africa, Latin America, and parts of Asia, while calling for the dismantling of corporate tax avoidance to fund a just and democratic energy transition.

• Government revenue lost to tax havens could fund a transition to 100% renewable energy for half the world by 2030, specifically covering Africa, Latin America, and much of Asia. The average extra investment required for this transition over a 15-year period is $507 billion per year.
• The total extra investment required to achieve 100% renewable energy by 2030 for specific regions is estimated at $7,603 billion. This is broken down as $4,937 billion for 'Other Asia' (non-OECD countries including India, excluding China), $1,501 billion for Africa, and $1,165 billion for Latin America.
• Global tax revenue losses due to corporate tax avoidance are estimated by the IMF at up to $600 billion per year. Other estimates suggest profit shifting by US multinationals alone caused $130 billion in losses in 2012, and an additional $190 billion is lost annually through tax evasion from non-declared offshore assets.
• A 100% renewable energy system must be guided by principles of social justice and sustainability, including providing energy access as a basic human right, ensuring direct democratic control, using locally-appropriate technologies, prioritizing energy efficiency, and respecting communities' rights to free, prior and informed consent to prevent land grabbing.
• The proposed energy mix for the global south would rely heavily on variable renewables (62-88%) such as wind, solar PV, and concentrating solar thermal power with storage. The remainder would be provided by geothermal, existing hydro dams (with no new dams built), and minimal bioenergy (2-4%).
• To end tax havens and fund the energy transition, the report recommends implementing country-by-country reporting of multinational economic activity, creating public registers of true company owners, ending bank secrecy, removing fossil fuel subsidies, and requiring developed countries to repay their 'climate debt' through unconditional funding for developing countries.

APA

Hearps, P., & Cossar-Gilbert, S. (2016). AN ENERGY REVOLUTION IS POSSIBLE. Friends of the Earth International. https://www.foei.org/wp-content/uploads/2021/05/Summary-FINAL-2.pdf

Chicago

Hearps, Patrick, and Sam Cossar-Gilbert. AN ENERGY REVOLUTION IS POSSIBLE. Friends of the Earth International, 2016. https://www.foei.org/wp-content/uploads/2021/05/Summary-FINAL-2.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=September 2016 |url=https://www.foei.org/wp-content/uploads/2021/05/Summary-FINAL-2.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{hearps2016energy, author = {Hearps, Patrick and Cossar-Gilbert, Sam}, title = {{AN ENERGY REVOLUTION IS POSSIBLE}}, institution = {Friends of the Earth International}, year = {2016}, month = sep, url = {https://www.foei.org/wp-content/uploads/2021/05/Summary-FINAL-2.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }