ENERGY DARWINISM II Why a Low Carbon Future Doesn’t Have to Cost the Earth

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https://ir.citi.com/hsq32Jl1m4aIzicMqH8sBkPnbsqfnwy4Jgb1J2kIPYWIw5eM8yD3FY9VbGpK%2Baax

Source:  Citigroup Inc.
For Investigation:  10.3

A new report from Citibank states that investing in low-carbon energy would save the world $1.8 trillion through 2040. Not acting will cost $44 trillion by 2060 from the “negative effects” of climate change. Here are two quotes from the report, Energy Darwinism:
  • “We believe that that solution does exist. ...The incremental costs of following a low carbon path are in context limited and seem affordable, the ‘return’ on that investment is acceptable and moreover the likely avoided liabilities are enormous. Given that all things being equal cleaner air has to be preferable to pollution, a very strong ‘Why would you not?’ argument begins to develop.”
  • "Overall, we find that the incremental costs of action are limited (and indeed ultimately lead to savings), offer reasonable returns on investment, and should not have too detrimental an effect on global growth....”
Implementing renewable energy sources and improving efficiency would very likely boost the global economy. The report also addresses the cost of stranded assets, i.e. to prevent 2ºC of warming, a third of the world’s oil reserves, half of its gas reserves, and more than 80 percent of its coal reserves need to stay in the ground, or be used at a dramatically reduced rate.

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