Recent Activity

  • Tackling Climate Change Will Cost Only $150bn a Year Says the EU
    alex commented on the article | over 2 years ago
    Tackling Climate Change Will Cost Only $150bn a Year Says the EU

    Hey Mike,


    Thanks for this post - I really like the site and have been following it as I follow the negotiations. My concern with this post is that it accepts the EU's estimate of the cost of fighting climate change.


    Recent analysis of the UN figures suggests the amount may be closer to $500-600 billion per year and that’s for adaptation alone. The costs of unavoidable losses and damage from climate change may be significantly higher. Further the costs of taking mitigation action – developing and deploying carbon neutral technologies – will be at least the same as that again for the energy sector alone according to the IEA. This means the EU’s figure is out by an order of magnitude.


    And even with the EU's figure they actually propose to only meet a third of that - the other money to come from a 'carbon market' and from developing countries themselves! I'd be happy to send you through some more resources on this if you're going to write on it again.


    Cheers


    Alex




     

Impact

0 Recruits