Global net zero emissions goal would require US$1-2t a year investment, study shows | Malay Mail

Wednesday, 16 Sep 2020 02:58 PM MYT

LONDON, Sept 16 — Achieving net zero emissions by mid-century would cost an estimated US$1 trillion to US$1-$2 trillion a year of additional investments, or 1-1.5 per cent of global gross domestic product, a report by the Energy Transitions Commission said yesterday. When this is achieved, the reduction in 2050 living standards in developed and developing countries would amount to less than 0.5 per cent of global GDP, the report said.

The report said dramatic improvements in energy efficiency will need to be made; annual global electricity supply will have to grow four to five times to reach 90,000-115,000 terawatt hours and the annual pace of wind and solar capacity will need to be five to six times the increase achieved in 2019.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks rally as Covid-19 vaccines lift hope, dollar eases | Malay MailNEW YORK, Sept 15 — The dollar weakened and world stock markets rallied yesterday on encouraging signs of progress in developing a Covid-19 vaccine, while several multi-billion dollar deals also helped lift the spirit of investors after the downdraft in the past two weeks. Gold jumped almost 1...
Source: malaymail - 🏆 1. / 86 Read more »