Spending
The most persistent argument against bold climate action is that it will cost too much. Leaving aside that we know it will cost more the longer we delay, let’s look at the real price tag. First, take note that the G20 countries expect to spend $6.3 trillion to tackle COVID-19, which is 9.3% of their G20 2019 GDP. A new report from the Energy Transitions Commission – backed by multinationals (like ArcelorMittal, Shell, Tata Group and Volvo) and NGOs (like the World Resources Institute) – estimates it could cost 0.5% of global annual GDP spending to reach net-zero carbon by 2050.
— Wayne Visser
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From Purpose Inspired: Reflections on Conscious Living, Volume 4. Buy on Lulu ↗