Following on from Estimating the social cost of [uncontrolled] greenhouse gas pollution, what is the likely cost to shut down the emissions?
by David Brancaccio and Rose Conlon 14/02/2022 in Marketplace
What would it take to reach net-zero global emissions by 2050?:
More than 70 countries have pledged to cut their greenhouse gas emissions to net zero by mid-century. And in order to achieve the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels, the Intergovernmental Panel on Climate Change projects the world would need to reach net-zero emissions by 2050. Such a transition would require colossal change throughout the global economy, according to a new report from the McKinsey Global Institute, citing an average of $9.2 trillion in annual spending on physical infrastructure through 2050— $3.5 trillion more than current yearly spending.