Fuel savings can pay for green energy shift

PARIS: Making the global switch from climate-altering fossil fuels to renewables by 2050 would require an extra $1 trillion (880 billion euros) per year, but the bill will be covered by lower energy costs, a Greenpeace report said Monday.

On top of some 600 billion euros per year already earmarked by governments and businesses for investment in renewables, the extra funding would be needed to build enough green energy generators to replace coal-, oil- and gas-fired power stations, it said.