Posted on 06/15/2017 11:38:05 AM PDT by ForYourChildren
A whopping $7.4 trillion will be spent globally on new green energy facilities in the coming decades, but another $5.3 trillion is needed to meet the goals of the Paris climate accord, according to a new report.
Bloomberg New Energy Finance (BNEF) is out with a new long-term energy outlook report, this time projecting a total of $12.7 trillion to keep projected global warming below 2 degrees Celsius by the end of the century — a goal of the Paris accord.
BNEF projects $7.4 trillion will be invested in new green energy capacity by 2040, and that global carbon dioxide emissions will be 4 percent lower in that year than in 2016.
But that’s not enough to keep projected warming below 2 degrees, the report warns.
BNEF says a “further $5.3 trillion investment in 3.9 [terawatts] of zero-carbon capacity would be consistent with keeping the planet on a 2-degrees-C trajectory,” according to an excerpt of the report obtained by Axios.
President Donald Trump announced U.S. withdrawal from the Paris accord in early June, arguing it would hurt American workers by transferring wealth from them to economic competitors, like China and India.
“This agreement is less about the climate and more about other countries gaining a financial advantage over the United States,” Trump.
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(Excerpt) Read more at dailycaller.com ...
Excellent. Let’s see how much Tom Steyer and Leo DiCrappio pledge to contribute each year.
No problem. We’ll just roll it into the cost of living.
I want to be one of the brokers putting these deals together, that’s what I want. It will be like owning your own money machine.
IOW, more money’s needed to line more pockets.
Well they need to be shamed into giving millions.
Rahm and Moonbeam better find some cash.
Don’t forget us California taxpayers.
I wonder who’s bank accounts this 12trillion dollars will go to?
The city of San Francisco ought to be able to handle that amount.
Welp, they better get crackin’ with their bake sale. I ain’t giving them jack...
It appears this figure doesn’t include the trillions we would be committed to give third world countries under the Paris accord.
Good for them just as long as the US doesn’t send them a dime.
This isn’t so unreasonable; we can pay them in Zimbabwean dollars. $12 Trillion Zimbabwean dollars will buy lunch in Harare.
That’s okay, whats-his-face in New Yawk says he is going to pay it out of his own pocket.
Let’s do the math:
6.5 billion people on earth...
13 trillion dollars needed...
That’s just $2,000 for each human on Earth, of course it the fault of the USA so we should pay 10 trillion (and the other countries will renege).
To paraphrase the late Sen. Everett Dirksen:
“A trillion here, a trillion there; pretty soon you’re talking real money.”
I am sure China and India will pony up this pocket change.
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