‘Funny Money’: UN Climate Summit pledges will need $13.5 trillion energy sector investment says IEA
Welcome to the world of funny money as ‘climate pledges’ are converted into imaginary dollars. PEIreports on the latest fantasy numbers as the Paris climate conference aka COP21 approaches.
The International Energy Agency (IEA) has today released a special briefing document that outlines the energy sector implications of national decarbonisation pledges submitted for the upcoming December climate summit in Paris, known as COP21.
The briefing finds that if all countries meet the goals outlined in their submitted pledges, growth in energy-related emissions – which account for two-thirds of total greenhouse gas emissions – will “slow to a relative crawl by 2030”.