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Other - SEPTEMBER 16, 2020

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Report says net-zero emissions to cost $2t per year

by Released

The Energy Transitions Commission (ETC) estimates that additional investments required to achieve net-zero-carbon economy goals will require an estimated $1 trillion to $2 trillion per year, equivalent to 1.0 percent to 1.5 percent of global GDP, in its new report Making Mission Possible – Delivering A Net-Zero Economy.

This represents only a small increase of global investments, which currently amount to about a quarter of global GDP, and would contribute to global economic growth.

“There is no doubt that it is technically and economically possible to reach the zero-carbon economy which we need by 2050; and zero must mean zero, not a plan which relies on the permanent and large-scale use of ‘offsets’ to balance continued GHG emissions. But action in the next decade is crucial — otherwise it will be too late,” said Adair Turner, ETC co-chair.

Ajay Mathur, ETC co-chair, added, “In India as in many countries, climate change is already impact

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