Tackling Climate Change in a Changing World
Economic and social development has generated unprecedented progress, overcoming widespread famines, extending life expectancy, increasing incomes in large swaths of the world. Much of this has been propelled by technological developments, particularly the internal combustion engine, and with it increased CO2 emissions. These have triggered growing concerns on global warming, and an increasing consensus that CO2 emissions need to be curbed to prevent further global temperature increases, and constrain temperature increases to less than 2 degrees Celsius above pre-industrial levels, as set out in the 2016 Paris Agreement. A change of this magnitude requires an overhaul of historic proportions for energy policies, and investment of the order of $16.5 trillion. Such outlays will require profound transformation in production and transportation practices, and spending on renewables and efficiency, as well as carbon capture and storage through 2030.
