Capping Greenhouse Gases Could Cost $1 Trillion

The continued emission of harmful gases by industrialized countries, combined with the growth of emissions by developing economies, will double the level of greenhouse gases in the atmosphere by 2050. Reducing these emissions and their environmental consequences is possible, but it would come with a price: $1 trillion over the next several decades.

The estimate, by PricewaterhouseCoopers, considers the cost of helping to convert world economies to cleaner fuels, as well as aggressive overall energy reduction, without inhibiting the growth of emerging economies.

One trillion dollars is a lot of money... but it is minimal compared with the environmental catastrophe that would ensue if carbon emissions were left unchecked. "It is implicit from our findings that a trillion dollars certainly is a cost worth incurring," said John Hawksworth, the chief economist at PwC and author of the report.

Source: The Independent