Seed: How Much Will Ignoring Climate Change Cost? Here’s the Alarming Answer
Although many people are concerned about what addressing climate change might cost us , Citibank predicted the cost of ignoring climate change. Here is what they came up with :
$44 trillion.
Citigroups new report , Energy Darwinism II: Why a Low Carbon Future Doesnt Have to Cost the Earth. Its hard for people to grasp just how costly climate change will wind up being, so Citigroup decided to just give everyone the hard figure theyve been asking for. Given that the number is based on projections, we obviously cant know for sure that $44 trillion will be the final total, but at least its a more specific illustration than the hundreds of other more nebulous reports.
Researchers at Citigroup arrived at this figure by playing out two hypotheticals: one where the global community establishes a new energy plan that seriously lowers carbon emissions, and one where the global community acts indifferently to climate change. By the year 2060, Citigroup anticipates that the world will have spent $44 trillion more than they would have if they tried to address climate change in a more timely manner.
Since so many corporations seem to be responsible for helping to fund climate change denial campaigns, it may come as a surprise that a large entity like Citigroup would commission and release research of this nature. However, Citigroup seems to understand that the health of its business is dependent on the health of the planet.
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