rss-ikon
IEA estimates the annual cost for a delay on climate change to $500 billion
2009-11-11

Cleantech.com released earlyer in the week a report showing that the importance of a new climate agreement in Copenhagen should not be overestimated (have a look at “The significance of Copenhagen should not be overestimated, according to new report”). International Energy Agency (IEA), adviser on energy issues to 28 industrialized countries, has now discovered that a failure in Copenhagen may become very expensive. They estimate that the cost could rise to 500 billion dollars each year, starting from 2010, as an international agreement is delayed.

IEA estimates that total investments globally eg in energy efficiency and renewable energy during the period 2010-2030 to reduce carbon dioxide emissions will amount to $10 500 billion.

The report warned that the current energy consumption and the high use of fossil fuels “Will inevitably lead to massive climate change and irreparable damage to the planet”. In order to avoid a disaster, the only way is to drastically reduce fossil fuel use. The report estimates that by 2030 must the share of renewable energy be equal to 32%, compared with 2007 when 19% came from renewable sources. Even more drastic changes need to be done in the automotive industry where the internal combustion engine of today must be phased out and only represent 40% of new sales in 2030 against current 90%.
Share Link: Share Link: Google Del.icio.us Digg Facebook Twitter Linked In Google Buzz
 
© 2010 Save Earth Fund / CB Fonder           Nybrokajen 7, SE-111 48 Stockholm           +46 (0)8 566 133 10           info@saveearthfund.com