We only have to SAVE the Global Renewable Energy Budget to Achieve Green Nirvana – Is It Possible?

Guest essay by Eric Worrall

According to Time, the world now spends 1% ($0.8 trillion/year) of global income on renewable energy. But with the “surprisingly low cost” of 2.4 trillion USD/year, we can make all our green energy fantasies come true, although we may also have to become vegans and give up our pensions.

Surprisingly cheap card in averting climate catastrophe


Despair is just as dangerous as rejection. And it’s equally wrong. Humanity has enormous resources under its command, and by applying them wisely, we can still avert the ecological cataclysm. But exactly how much will it be? Price To prevent the apocalypse? If humanity wants to stop catastrophic climate change, How big of a check will we have to write?

Of course, no one knows for sure. My team and I spent weeks poring over various academic reports and articles, living in a cloud of numbers. But while the patterns behind the numbers are dizzyingly complicated, the bottom line is that we should cheer up. Follow International Energy Agency, to achieve a net zero carbon economy would require us to spend just 2% of global GDP annually more than we do for energy systems. In a recent poll of climate economists conducted by Reuters, most agreed that reaching net zero would only cost 2% to 3%. Annual global GDP. Other estimates put the cost of decarbonization in the economy a bit lower or a little higher, but they are all among the lowest in annual global GDP.

These figures echo the assessment of the Intergovernmental Panel on Climate Change, which 2018 Report says that to limit climate change to 1.5°C, the annual investment in clean energy needed to grow to about 3% of global GDP. Because humanity spends about 1% of global GDP annually about clean energy, we just need to add 2% slices of the cake!

The above calculations focus on the transition costs of the energy and transportation sectors, which are by far the most important. However, there are also other sources of emissions such as land use, forestry and agriculture. You know, the infamous cow farts. The good news is that a lot of these emissions can be cut cheaply through behavioral changes like reduce meat and dairy consumption and rely more on a plant-based diet. It doesn’t cost anything to eat more vegetablesand it can help you (and the rainforest) live longer.

In the first nine months of 2020 alone, governments around the world announced stimulus measures worth nearly 14% of global GDP in response to the coronavirus pandemic. Pandemic caused by covid-19. If people press them hard enough, politicians can do the same to deal with the ecological crisis. So it is possible to invest Bank and pension funds. The retirement fund holds about $56 trillion USD. What good is a pension if you have no future?

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Yuval Noah Harari’s biological describes him as a historian, philosopher and author.

i like to watch dragon cave, a BBC television series in which ordinary people with a business idea can pitch the field to “dragons”, very wealthy people who have made their own fortunes through through investment and business creation.

One thing that is very clear is how quickly the dragons reject the losers. They very rarely pour money into micro businesses that are running at a loss, because if the business can’t make money on a small scale, pumping more money in to scale the business usually only speeds it up. cost of ideas.

If renewables can’t sustain themselves with a pump of $0.8 trillion a year, adding $1.6 trillion a year won’t solve anything.

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