We've Got Five Years to Create Low-Carbon Re-Industrialization... And Reap Trillions in Profits
photo: Wayne National Forest via flickr.
We've got about five years to build a global low-carbon economy before holding global temperatures below the critical 2°C threshold becomes nigh impossible: That's the word from WWF, in Climate Solutions 2. But the good news is that we still can make the transition, and the money it will bring in will far outweigh that going out:Past 2014, More and More Direct Market Intervention Required to Control Temps
The report warns that if we don't ramp up the transition to a low-carbon economy based on clean energy and more efficient industrial activity, beyond 2014 it will be "impossible for market economies to meet the low carbon targets to keep global warming below 2°C...and that delays will increase the levels of direct intervention needed in the economy."
Climate Solutions 2 recommends simultaneous action to cut emissions in all economic sectors, combined with a full range of public policy supporting that, including energy efficiency standards, feed-in tariffs for renewable energy and an end to perverse subsidies for fossil fuels.
$7 Trillion Investment in Renewables = $42 Trillion Payoff
That's the tough green love part; here's the payoff: In terms of investment needed, the report estimates $17 trillion extra worldwide by 2050 -- $7 trillion of that in renewable energy, which is estimated to generate returns for investors of about $42 trillion.
Here's the report: Climate Solutions 2: Low-Carbon Re-Industrialization
More info: WWF
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