Al Gore
๐ค SpeakerAppearances Over Time
Podcast Appearances
reduce emissions by a third in five years and we'd reduce income inequality.
So is it realistic to ignore this urgent need to reform the world's financial infrastructure so that we can properly invest in the climate crisis?
Most of the financing comes from private sources, but developing countries are not getting their share of it.
We need to reform the policies that are leading to this because 100 percent of the increased emissions expected are going to come from the developing countries.
We're about to see massive reductions in emissions.
It may have already started, especially in China with all their renewables, but the developing countries, that's where the emissions increases are due to take place.
And yet they only receive less than 19 percent
of the world's financing for clean energy, but almost 50 percent of the money flooding in for more fossil fuels.
The single US state of Florida has more solar panels than the entire continent of Africa.
That is a disgrace, because Africa has 60 percent of the world's prime solar resources, yet only 1.6 percent of the financing for renewable energy.
But look at what's happening with the investments
for fossil fuels in Africa.
There's a dash for gas.
All of these new facilities.
There are three times as many fossil fuel pipelines under construction and proposed for construction to begin in Africa as in all of North America.
And you take those LNG terminals, the cost of one of them, there's 71 in the works, 31 already existing, $25 billion.
That's the exact amount that would provide universal energy access to all of Africa.
So maybe we could spend that money a little bit better, but instead of financing actual energy access to renewable energy, they want access to the resources to export it from Africa instead of giving access for Africans.
You know, the potential for solar and wind in Africa is 400 times larger than the potential energy from fossil fuels.
Every single country in Africa could have 100 percent energy access using less than one percent of its land, most including the country we're in, less than 0.1 percent of their land.