The world faces “the mother of all recessions” unless much more is done to encourage the development of renewable energy.
The warning was cast by Sir Richard Branson, Founder and Chairman of the Virgin Group, who said; “If we don’t have alternative fuels we are going to have the mother of all recessions. The way to kick-start the revolution is to have no tax on all clean energy while slowly increasing tax on dirty energy.”
Addressing delegates at the third annual Six Senses SLOW LIFE Symposium at Soneva Fushi in the Maldives, Sir Richard said that governments had to provide additional incentives to support the adoption of alternative fuel sources.
He specifically called on European aviation authorities and airports to do more to reduce the aviation industry’s energy emissions and called the climate change battle the “biggest entrepreneurial opportunity of our lifetime”. As leader of Virgin airlines, he has been diverting profits into the development of green aviation fuels.