About Careers Internship MedBlog Contact us

Two Degree Celsius Change in Climate to Cost 800 Billion US Dollars Per Year Globally

by Bidita Debnath on July 6, 2014 at 10:16 PM
 Two Degree Celsius Change in Climate to Cost 800 Billion US Dollars Per Year Globally

Additional investments of about 800 billion US Dollars per year are required globally from now to mid-century in order to limit climate change to 2 degree Celsius, reveals a new study.

However, much of that capital could come from shifting subsidies and investments away from fossil fuels and associated technologies, as fossil subsidies currently amount to around 500 billion dollars per year worldwide.


David McCollum, the IIASA researcher, said that to avoid the worst impacts of climate change, they need to drastically transform their energy system and this comprehensive analysis revealed how much investment capital was needed to successfully make that transition.

The authors examined future scenarios for energy investment based on a variety of factors, including technology progress, efficiency potential, economics, regional socio-economic development, and climate policy.

The researchers established that their analysis of future investment costs did not attempted to quantify the potentially major fuel savings from switching from fossil fuels to renewable sources, such as wind and solar energy.

The study found that the greatest investments would be needed in rapidly developing countries like Asia, Latin America, and Sub-Saharan Africa.

The study is published in the journal Climate Change Economics.

Source: ANI
Font : A-A+



Recommended Readings

Latest Research News

Brain Circuits That Shape Bedtime Rituals in Mice
New study sheds light on the intrinsic, yet often overlooked, role of sleep preparation as a hardwired survival strategy.
NELL-1 Protein Aids to Reduce Bone Loss in Astronauts
Microgravity-induced bone loss in space, can be reduced by systemic delivery of NELL-1, a protein required for bone growth and its maintenance.
Connecting Genetic Variants to the Alzheimer's Puzzle
Researchers establish connections between Alzheimer's-linked genetic alterations and the functioning of brain cells.
Gene Therapy Sparks Spinal Cord Regeneration
Team at NeuroRestore introduces a groundbreaking gene therapy that has effectively promoted nerve regrowth and reconnection, post spinal cord injury.
Unlocking the Gut Microbiome's Influence on Bone Density
Scientists aim to pinpoint particular functional pathways affected by these bacteria that may have an impact on skeletal health.
View All
This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close
Greetings! How can I assist you?MediBot

Two Degree Celsius Change in Climate to Cost 800 Billion US Dollars Per Year Globally Personalised Printable Document (PDF)

Please complete this form and we'll send you a personalised information that is requested

You may use this for your own reference or forward it to your friends.

Please use the information prudently. If you are not a medical doctor please remember to consult your healthcare provider as this information is not a substitute for professional advice.

Name *

Email Address *

Country *

Areas of Interests