Guest essay by Eric Worrall
Let me take a look, I'm sure I have some change in my pocket somewhere …
Funding the fight against global warming
One report estimates that it will take trillions to transform the world economy
By: James Langton
December 4, 2020, 3:41 pm
Shifting the global economy into a low-carbon mode will require an estimated $ 100 to $ 150 trillion in investment over the next 30 years, according to a new report.
The industry trading group Global Financial Markets Association (GFMA), together with the Boston Consulting Group, published a report examining the emerging climate finance market.
To generate this type of investment, "the price of carbon must go up to fully price emissions," he suggested.
Given the scale of the challenge, the report called for coordinated government and private sector action to significantly enlarge the climate finance market and develop the financial and risk management tools needed to catalyze investments.
"The unprecedented call to action is designed to help mitigate significant pricing errors and potential risks to financial stability that would undermine the long-term ability of the financial system to provide funding to fully support the Paris-centered transition," GFMA said.
Read more: https://www.investmentexecutive.com/news/research-and-markets/funding-the-fight-against-global-warming/
The report is available here.
To put this fun new number in perspective, if you were to spend $ 130 million every day since the death of Jesus Christ, you would be approaching $ 100 trillion right now.
More than $ 14,000 for every man, woman, and child on earth.
You know what, thanks but no thanks. I think I prefer global warming.