Over on the Sustainability Blog, Michael pointed out that, according to the IEA report, the cost of decarbonising the world’s energy supply would be less than has been spent recently in shoring up the world’s economies. For me a slightly more disturbing number is hidden deeper in the IEA report.
$3.6 trillion – the cost of decarbonising all the world’s energy production between 2010 and 2030.
$9.5 trillion – required investment into oil infrastructure in order to meet demands for oil between now and 2030.
So the cost of decarbonising is a fraction of the amount needed in order to shore up oil infrastructure to maintain business as usual. Sure, this is an oversimplification, but at the heart of it is a sad truth.
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