While emissions in Brazil, the United States or Europe decrease, global greenhouse gases emissions keep on increasing. Indeed the International Energy Agency – IEA – has noted that global emissions increased by 1.4 percent in 2012.
If nothing was done to reverse this nefarious trend, the average global temperature would increase by a massive 5.3°C. This would have “potentially disastrous implications” as IEA Executive Director Maria van der Hoeven stated.
Continuing the inaction would have a staggering cost as it would be much more difficult afterwards to limit global warming to 2°C.
As Climate Progress noted :
Doing nothing to reduce carbon pollution this decade also has a staggering net cost of $3.5 trillion — assuming that post-2020 we then tried to get back on the 2 C (3.6 F) pathway, as the report explains:
Delaying stronger climate action to 2020 would come at a cost: $1.5 trillion in low-carbon investments are avoided before 2020 but $5 trillion in additional investments would be required thereafter to get back on track.
Luckily for us, the IEA has found four ways to limit greenhouse gases emissions at no net economic cost. This will be the topic of tomorrow’s post, so stay tuned.