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Pew Predicts $2.3 Trillion Clean Energy Investment Through 2020
2010-12-08 20:01:50.74 GMT
By Ehren Goossens
Dec. 8 (Bloomberg) -- The world's 20 most powerful
countries may spend as much as $2.3 trillion on renewable energy
projects over the next decade, according to The Pew Charitable
Trusts.
The Philadelphia philanthropic organization estimated in a
report today that this amount would be enough to reduce the
amount of greenhouse gases in the atmosphere to levels that
reduce the risk of global warming.
This sum would require the Group of 20, the countries with
the largest economies, to significantly change their policies
addressing climate change and renewable energy, the report said.
Under current policies, the report estimated that the G-20
nations would spend $1.8 trillion in the same period and
greenhouse-gas levels would increase beyond the benchmark of 450
parts per million -- a level that the report said would likely
have "costly impacts associated with climate change." Pew
collaborated on the report with Bloomberg New Energy Finance.
The study evaluated a third scenario, in which the G-20
nations spend $1.9 trillion over the next ten years. That would
be enough to comply with the Copenhagen policies adopted at a
United Nations climate change conference last year, and would
stabilize greenhouse gas levels at 450 ppm.
--Editor: Will Wade, Reed Landberg
To contact the reporter on this story:
Ehren Goossens in New York at +1-212-617-7155 or
egoossens1@bloomberg.net.
To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or
landberg@bloomberg.net.
