Global net zero emissions goal would require $1.4 trillion to $2.8 trillion a year investment, study says

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LONDON (REUTERS) - Achieving net zero emissions by mid-century would cost an estimated US$1 trillion to US$2 trillion (S$1.36 trillion to S$2.72 trillion) a year of additional investments, or 1 to 1.5 per cent of global gross domestic product, a report by the Energy Transitions Commission (ETC) said on Wednesday (Sept 16).. Read more at straitstimes.com.

LONDON - Achieving net zero emissions by mid-century would cost an estimated US$1 trillion to US$2 trillion a year of additional investments, or 1 to 1.5 per cent of global gross domestic product, a report by the Energy Transitions Commission said on Wednesday .

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.

 

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