World Needs $200 Trillion to Halt Climate Change

Bloomberg’s green-energy team estimates that achieving zero carbon emissions by 2050 would require a whopping $196 trillion. This transition would involve a massive shift from fossil fuels to renewable energy and electric vehicles. While these numbers are daunting, they pale compared to the estimated $23 trillion annual loss to the global GDP if global warming goes unchecked. The goal is to limit global heating to 1.5 degrees Celsius above pre-industrial levels, beyond which the damage could be irreversible. The challenge is convincing governments and citizens to invest in preventing long-term damage. (read more…)