$200 Trillion Is Needed to Stop Global Warming. That’s a Bargain.
07/05/2023 19:57
Failing to invest in fossil-fuel alternatives will result in a far higher price tag — and an increasingly unlivable planet.
A hotter planet will cost you.
Photographer: Patrick T. Fallon/AFP/Bloomberg
What price tag would you put on preserving a functioning human civilization? Would $200 trillion just about cover it? Could that even be a bargain?
Bloomberg NEF, Bloomberg’s green-energy research team, estimates in a new report this week it could cost $196 trillion in investments to zero out the world’s carbon emissions by 2050, as many countries have pledged to do, to avoid society-destroying global warming. It probably won’t shock you to learn the world’s net-zero pledges haven’t yet been followed by the hard cash, or even promises of hard cash, necessary to make them a reality.