Home World $ 2 trillion in annual investment is needed for global emissions to fall to zero

$ 2 trillion in annual investment is needed for global emissions to fall to zero

by newsupe

Because of human activity and industrialization, the world has warmed an average of 2 degrees more over the last two centuries, and so global temperature records continue to be broken a few weeks apart.

The increase in emissions is causing climate change and habitat destruction. In order to avoid the catastrophe in which the world is drifting, global carbon emissions need to be net zero by the middle of this century. However, UK-based Energy Transition Commission (ETC) published by according to the report, to achieve net zero emissions globally by 2015, approximately 1-2 trillion dollars per year of additional investment or 1-1 cent of global gross domestic product,15% will cost.

According to the Paris bilateral Convention, which entered into force in 2016 and was approved by 175 countries, global carbon emissions are aimed at falling net to zero by the end of this century so that the world does not warm by more than 1.5 degrees Celsius.

Since 2000, global warming has cost the United States and the European Union at least $ 4 trillion, and tropical countries have been impoverished by five percent because of climate change, according to research by Stanford University.

IN UNDEVELOPED COUNTRIES, THE PRICE IS HIGHER

But, according to a report by the Energi Transition Commission (etc), maintaining a carbon-free economy globally costs more than living with climate change. According to scientists, $ 1-2 trillion in additional investment is needed annually to achieve net zero emissions by the middle of this century. However, these investments are equivalent to 0.5% of GDP in 2050 living standards in developed and developing countries and 0.5-1% of GDP in undeveloped countries

ETC, with the commitment to carbon free economy by 2050, ArcelorMittal, HSBC, BP, Shell, Orsted, and Bank of America, including 40 energy producers, industrial companies and financial institutions consists of.

On the other hand, the report of the global collation said significant improvements in energy efficiency were needed. Accordingly, in order for the annual global electricity supply to reach 90 thousand -115 thousand terawatt hours within the scope of electricity generation with clean energy, resources will have to increase 4 to 5 times.

“A LONG-TERM INVESTMENT FOR THE FUTURE OF THE WORLD”

However Adair Turner, co-chair of the ETC, said meeting the target was not impossible despite its costs and achieving zero emissions globally was a long-term investment for the world’s future.

“There is no doubt that it is technically and financially possible to achieve the zero-carbon economy we need by 2050, “Turner said in a statement, adding that zero-zero means balancing continuous emissions and leaving a livable world for our children. But it’s important to take action over the next decade. Otherwise it will be too late,” he said.

CHINA HAS A RICH AND DEVELOPED ECONOMY TO ACHIEVE ZERO EMISSIONS

However, the ETC’s report said China has the resources and technology needed to become a rich and developed carbon-free economy by 2050. All countries could reach the target by 2060 at the latest, but more efforts were needed to encourage private investors to Yesil energy.

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