New WWF campaign: Invest in renewable energy!



Posted on 05 June 2013  | 
On World Environment Day, WWF calls on the EU to prioritise investments in renewable energy while immediately phasing out investments in coal.

This European call to action is part of WWF’s new international campaign under the slogan Seize Your Power [1]. WWF is urging governments and financial institutions to increase investment in renewable energy by at least US$40 billion over the next 12 months.

“Unless we act now to ensure that renewable energy replaces fossil fuels, dangerous climate change will become inevitable. As the world's third largest greenhouse gas emitter, the European Union and its 27 member countries have a crucial role to play. Europe can boost its competitiveness by leading the world in the highly profitable and low risk sustainable renewable energy sector,” said Tony Long, Director of the WWF’s European Policy Office.

In Europe, WWF is looking to change the investment decisions of the European Investment Bank [2] and the European Bank for Reconstruction and Development [3]. The banks’ boards must change the investment model of their respective institutions and support renewable energy. A firm decision to phase out coal immediately and devote energy investments to renewable energy generation, grids and energy savings is needed [4].

“All Europeans can join WWF by signing the “Seize Your Power” pledge calling for more investment in renewable energy and the end of wasting money on a short sighted and unnecessary addiction to coal, oil and gas”, continued Tony Long.

A recent WWF study clearly shows that the EU has the potential to generate at least 40% of its energy from renewable sources by 2030 and 100% by 2050 [5].

“Over the next year of WWF’s campaign, the EU will take crucial decisions about its energy future. It is vital that an ambitious 2030 framework for climate and energy policy is agreed, so investors have the confidence to follow political leadership. Europeans won’t forgive any caving in to vested interests who pollute for profit”, added Jason Anderson, Head of climate and energy at WWF’s European Policy Office.

ENDS

Contacts:

Jason Anderson
Head of Climate & Energy
WWF European Policy Office
janderson@wwf.eu
Phone:+32 2 740 09 35
Mobile:+32 4 74 837 603


Audrey Gueudet
Communication and Media Officer
WWF European Policy Office
agueudet@wwf.eu
Phone: +32 2 743 88 06 |
Mobile: + 32 4 94 03 20 27


Note to the editors:

[1] At global level, WWF will campaign to seek major public commitments from governments and international financial institutions to make new investments of $40 billion USD beyond business-as-usual in the renewable energy sector. The public campaign will feature in more than 20 countries, where WWF is targeting public finance, pension funds and sovereign wealth funds. By establishing a business case for moving new money into renewable energy, the campaign will show the environmental, social and economic risks of the dependence on dirty energy such as coal, oil and gas.

[2] WWF’s position paper on the European Investment’s energy lending review:
http://awsassets.panda.org/downloads/wwf_recommendations_eib_energy_lending_review_feb13_1.pdf

[3] WWF’s position paper on the European Bank for Reconstruction and Development’s energy lending review: 
http://awsassets.panda.org/downloads/wwf_recommendations_ebrd_energy_lending_review_may13.pdf

[4] In 2012, the European Investment Bank devoted 42% of its energy portfolio to renewable energies and energy savings, down from 52% in 2011. The European Bank for Reconstruction and Development devoted 55% of its energy portfolio for renewable energies and energy savings in 2012. But both still support coal.

[5] WWF report: “Putting the EU on track for 100% renewable energy”: http://awsassets.panda.org/downloads/res_report_final_1_1.pdf


WWF’s European Policy Office “Seize Your Power” campaign webpage: www.wwf.eu/seizeyourpower

Related images can be downloaded here: https://photos.panda.org/gpn/external?albumId=4417

Follow @WWFEU, Jason Anderson (@climatepanda) and Audrey Gueudet (@AudreyGueudet) on Twitter for more updates

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