Talk about sticker shock.
It would cost $12.7 trillion to build enough non-carbon dioxide green energy capacity to meet the Paris Climate Change goal of keeping the rise in global temperature below 2 degrees Celsius.
The Daily Caller reports on a new study from Bloomberg News Energy Finance.
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.
The Paris accord was always a scheme that had tremendous costs and as the study shows the agreement was not going to meet the deal’s goal.
Great move Mr. President.