January 21, 2014

Cut World GDP by 4%

The cost of climate change.

According to UN estimates, by 2050, global emissions need to be cut by 40% to 70% from 2010 levels in order to keep temperatures from rising more than 3.6 degrees Fahrenheit – the UN-agreed cap. The economic cost of doing so could reach 4% of world GDP by 2030. Given that temperatures haven’t risen at all for the past 15 years, the UN is calling on us to spend trillions of dollars to fight a phantom problem. The UN recommends investing $1 trillion per year on wind, solar and other renewable energy. But such investments have fallen for the last two years because they’re still not the most economically viable thing to do with money. That won’t stop the UN from blowing its own hot air.

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