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Climate Facts: To reach net-zero by 2050, $4trn needs to be invested in renewables annually

Climate Facts: To reach net-zero by 2050, $4trn needs to be invested in renewables annually
May 20
14:27 2022

The complexities of climate change and its associated jargon can make it difficult to digest. TheCable’s climate quick facts will help to demystify these climate concepts through easy-to-understand and straight-to-the-point explanations.

Here are some to keep at the tip of your fingers:

  • According to the United Nations (UN), about 90 percent of the excess energy that accumulates in the earth system due to increasing concentrations of greenhouse gases, goes into the ocean.

 

  • The International Monetary Fund (IMF) says that globally about $5.9 trillion was spent on fossil fuel subsidies in 2020 and it is expected to increase to 7.4 percent of gross domestic product (GDP) in 2025.

 

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  • According to the UN, the reduction of pollution and climate impact alone could save the world up to $4.2 trillion per year by 2030.

 

  • At least $4 trillion a year needs to be invested in renewable energy until 2030 – including investments in technology and infrastructure – if the world would reach net-zero emissions by 2050, says the UN.

 

  • According to the United Nations Convention to Combat Desertification (UNCCD), from 1970 to 2019, weather, climate and water hazards accounted for 50 percent of disasters and 45 percent of disaster-related deaths, mostly in developing countries

 

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This story is published in partnership with Report for the World, a global service program that supports local public interest journalism.

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