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Battling climate change to cost $700 billion a year
Posted By -NO AUTHOR- On 01/23/2013 @ 11:31 pm In Money,World | No Comments
(OilPrice) A new report written by the Green Growth Action Alliance in conjunction with the World Economic Forum (WEF), has estimated that around $700 billion a year must be invested in a variety of low carbon projects around the world in order to prevent climate change and secure the development of the green economy.
The vast sum of capital required will be invested in clean energy infrastructure, sustainable and low carbon transport, and energy efficiency improvements for buildings, all with the aim of limiting the global average temperature increase to less than two degrees above pre-industrial levels.
The report stated that, “as a result of the clear evidence of negative climate change impacts today, and the potentially devastating impacts in the future, greening investment is a pre-condition for a stable, vibrant and inclusive global economy.”
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