Climate Goals Require $5 Trillion Investment by 2020
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Five trillion dollars of investment is needed worldwide by 2020 in renewable power, energy efficiency and cleaner transportation to contain rising global temperatures, the International Energy Agency said.
After fuel savings of $4 trillion are taken into account, the net investment required by 2020 is about $1 trillion to ensure the temperature gains since industrialization don’t exceed 2 degrees Celsius (3.6 Fahrenheit), IEA Deputy Executive Director Richard Jones told energy ministers from 23 nations today in London.