One of the world’s largest banks has released a report analyzing the economic case for investing heavily in clean energy technology — and the results may surprise you.
As global GDP is set to triple by 2060, from $80 trillion to $260 trillion, the world will need to spend a staggering $200 trillion on energy sector investment before 2040, according to a Citi Global Perspectives & Solutions report. The cost of that investment, however, would be virtually the same whether money is poured into “business as usual” investments or clean energy solutions. Citi estimates an “inaction” scenario would cost $190.2 trillion, while an “action” on clean energy scenario would cost $192 trillion between 2015 and 2040.
“In the context of potential implications of climate change inaction on society and global GDP, and with the additional benefit of cleaner air, the ‘why would you not’ argument comes to the fore, an argument that becomes progressively h