IEA study calls for $10 trillion in spending on climate

A soon-to-be-published IEA study calls for $10 trillion in new spending on renewable energy and carbon reduction technologies “to limit the rise in the Earth’s temperature.” According to the study, total expected spending will need to top $500 billion per year, over the upcoming 20 years.

This Wall Street Journal note suggests that current spending is approximately $100 billion per year and that this new IEA estimate is a 37% increase from last year’s estimate. Not surprisingly, the study suggests that developed countries, such as the U.S. and Germany, will need to shoulder the largest portion of these expenses.

07. October 2009 by Jason Hayes
Categories: Climate Change, Emissions | Tags: , | Comments Off on IEA study calls for $10 trillion in spending on climate