A recent study says cities would recoup major investments in renewable energy through cost savings.
Evidence is mounting that municipal investments in renewable fuels, energy efficiency, public transit and waste management reap costs savings. Peter Slavin reports for Urban Land that a recent study finds that cities across the globe could save US$17 trillion collectively by 2050 with this strategy.
The study, Accelerating Low-Carbon Development in the World’s Cities, is the first to tabulate worldwide savings due to “low-carbon” strategies, the article says. Published by the New Climate Economy, part of the Global Commission on the Economy and Climate, the report is intended to influence decisions at next month’s climate talks in Paris.
Beyond cost savings, these steps have the added benefit of helping cities reduce emissions that contribute to climate change, the article notes. While such changes might seem daunting, the report’s author, Nick Godfrey, emphasizes that many urban areas already are making progress. Nearly 200 cities have introduced bus-rapid transit systems that carry more than 32 million passengers daily. More than 850 cities worldwide have introduced bike rental kiosks.