S&P Global Markets’ new report puts the price at $5.2 trillion to implement national-level plans to comply with the Paris agreement. But that figure is based on financial estimates individual countries submitted to the UN.
“Of the 189 countries that have submitted NDCs, only about 60 have included specific financial estimates of the costs, meaning the total would likely tally up far beyond the $5 trillion stated,” S&P reported, which adds that spending is not nearly enough to meet the goals of the Paris accord.
However, the UN estimates national plans to cut greenhouse gas emissions to shave 0.2 degrees Celsius off projected 3.2 degrees Celsius of warming by 2100. (This, of course, assumes the climate models have it right, which may not be the case.)
That’s $5.2 trillion to avert 0.2 degrees Celsius of projected warming.
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