Tackling Climate Change Through Profits
Last month in Davos, the World Economic Forum released the results of a survey of 750 experts on the "most significant long-term risks worldwide." This year the survey was unequivocal: failing to act on climate change is the number one global risk.
Coming on the heels of global climate talks in Paris late last year, this warning underscores the importance of the ambitious agreement world leaders achieved at COP21 to keep global warming to 2 degrees Celsius or less. The 2015 Paris Climate Conference was an historic event, and delivering on the goals in the agreement will require sustained political will, effort, and, perhaps most importantly, money.
The International Energy Agency (IEA) examined the emissions goals from over 150 countries in the lead up to Paris and came up with an estimated price tag:$13.5 trillion in investments needed in energy efficiency and low-carbon technologies between now and 2030 to meet those targets. That's $13.5 trillion with a "T." By anyone's standards, that is a whole lot of money.