Skip to main content

World economy's US$12 Trillion bill

Let it not be said that we haven't been warned.....and are sitting on our hands doing very little to ameliorate the present fossil fuel's emissions problem and what looms.  Future generations won't thank us of our inaction - and our plain idiocy.

"Unabated fossil fuel emissions will cost the global economy a staggering $12 trillion by 2050, according to a new report from the United Nations.

"The report predicts a temperature rise of 2.5ºC by 2050 if climate change continues on its current course, compared to the 1.5ºC temperature rise that was the goal of the emissions reduction plans laid out in the Paris climate accord. The world's gross domestic product will fall by $33 trillion in the "business-as-usual" scenario, the report found, and by $21 trillion under the 1.5ºC scenario—a difference of $12 trillion.

The report, Pursuing the 1.5ºC Limit, was published by the United Nations Development Programme along with "a group of 43 developing countries which are highly vulnerable to climate change," the Independent wrote Wednesday.

Its predictions fly in the face of President-elect Donald Trump's assertions during the presidential campaign that combating climate change would cost billions. And the report's findings appear all the more dire given Trump's climate change denial and vow to pull the U.S. out of the Paris agreement.

In addition to the financial cost, the ecological difference between the 1.5ºC and 2.5ºC scenarios is significant, the report found.

The Independent summarized its findings:
"[Limiting temperature rise to 1.5ºC] would also "substantially" reduce the risk of the flooding of large parts of the world’s lowest lying land, "with the Greenland ice sheet facing irreversible decline most likely around 1.6C of warming."

All the ice on Greenland would take some time to melt but would raise sea levels by seven meters once completely gone.


Keeping global warming to 1.5 per cent would mean at least 10 per cent of the coral reefs on the planet would survive; any higher and the "virtual disappearance" of this key marine ecosystem would begin."

Comments

Popular posts from this blog

Robert Fisk's predictions for the Middle East in 2013

There is no gain-saying that Robert Fisk, fiercely independent and feisty to boot, is the veteran journalist and author covering the Middle East. Who doesn't he know or hasn't he met over the years in reporting from Beirut - where he lives?  In his latest op-ed piece for The Independent he lays out his predictions for the Middle East for 2013. Read the piece in full, here - well worthwhile - but an extract... "Never make predictions in the Middle East. My crystal ball broke long ago. But predicting the region has an honourable pedigree. “An Arab movement, newly-risen, is looming in the distance,” a French traveller to the Gulf and Baghdad wrote in 1883, “and a race hitherto downtrodden will presently claim its due place in the destinies of Islam.” A year earlier, a British diplomat in Jeddah confided that “it is within my knowledge... that the idea of freedom does at present agitate some minds even in Mecca...” So let’s say this for 2013: the “Arab Awakening” (the t...

Palestinian children in irons. UK to investigate

Not for the first time does MPS wonder what sort of country it is when Israel so flagrently allows what can only be described as barbaric and inhuman behaviour to be undertaken by, amongst others, its IDF. No one has seemingly challenged Israel's actions. However, perhaps it's gone a bridge too far - as The Independent reports. The Foreign Office revealed last night that it would be challenging the Israelis over their treatment of Palestinian children after a report by a delegation of senior British lawyers revealed unconscionable practices, such as hooding and the use of leg irons. In the first investigation of its kind, a team of nine senior legal figures examined how Palestinians as young as 12 were treated when arrested. Their shocking report Children in Military Custody details claims that youngsters are dragged from their beds in the middle of the night, have their wrists bound behind their backs, and are blindfolded and made to kneel or lie face down in military vehi...

Wow!.....some "visitor" to Ferryland in Newfoundland