Sunday, May 12, 2024

Nations turn away from net-zero due to costs

See When the Only Problem Was Climate Change After the Cold War, the West took a vacation from history: Now it’s urgent that we get back to work by Bjorn Lomborg. Excerpts:

"According to a McKinsey report, achieving the vaunted net-zero emissions target by 2050 would require Russia to adopt policies that cost more than a quarter of a trillion dollars a year—around three times as much as Moscow spent on its military last year. Don’t hold your breath."

"China’s economic growth has relied on burning ever more coal. China is the world’s pre-eminent greenhouse-gas emitter and produced the largest increase of any nation last year. Renewables made up 40% of China’s primary energy in 1971. By 2011 they had fallen to about 7%, as coal use increased." 

"most of the world, particularly India and much of Africa, will continue to focus on becoming richer through fossil fuels."

"Annual per capita growth in the West declined from 4% in the 1960s to 2% in the 1990s. Since 2000, on average, it has hovered slightly above 1%."

"More politicians are realizing what Claire Coutinho, Britain’s secretary for energy and net-zero, has acknowledged: “You cannot heap costs onto struggling families to meet climate targets.”"

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