They said we were way overestimating costs with our Kyoto Count-up
Guess not, huh?
Low-Carbon World Needs $500 Billion a Year to Slow Warming, WEF Says
By Christopher Martin
Preventing the worst effects of global warming without harming economic growth requires doubling annual investments in renewable and low-carbon energy to $500 billion a year by 2020, according to the World Economic Forum.
Government policies must expand development of clean energy sources such as solar panels and wind turbines to limit a global temperature increase of 2 degrees Celsius (3.6 degrees Fahrenheit) from pre-industrial levels, a goal that environmental groups and scientists say is needed to halt the adverse impact of a warming planet.
Clean energy investment last year surged 30 percent to a record $243 billion, the WEF said today in a report based on data from Bloomberg New Energy Finance. That’s less than half of what is needed to prevent catastrophic warming that would melt polar ice caps and raise sea levels, it said.
“In this era of fiscal austerity, policy makers need to ensure that the supports they put in place drive sustained long- term growth,” co-authors Anuradha Gurung and Max von Bismarck said in the report. (Bloomberg)



