Catastrophic climate change can be averted without sacrificing living standards according to a UN report, which concludes that the transformation required to a world of clean energy is eminently affordable.
“It doesn’t cost the world to save the planet,” said economist Professor Ottmar Edenhofer, who led the Intergovernmental Panel on Climate Change (IPCC) team.
The cheapest and least risky route to dealing with global warming is to abandon all dirty fossil fuels in coming decades, the report found.
Diverting hundred of billions of dollars from fossil fuels into renewable energy and cutting energy waste would shave just 0.06% off expected annual economic growth rates of 1.3%-3%, the IPCC report concluded.
“The report is clear: the more you wait, the more it will cost [and] the more difficult it will become,” said EU commissioner Connie Hedegaard.
Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc