We need a critical reordering of infrastructure investments immediately. Smart, energy efficient and
carbon neutral projects are critical if we expect to slow global warming.
A gigantic overhaul of the world’s
buildings, public transport and energy infrastructure costing trillions of
dollars is required if dangerous climate change is to be avoided, according to
a major new report.
The study by the Global Commission on the Economy and Climate, which is co-chaired by
prominent climate economist Lord Nicholas Stern, found that the world is
expected to invest about $90tn in infrastructure over the next 15 years,
requiring an “urgent” shift to ensure that this money is spent on low-carbon,
energy-efficient projects. Such smart investment over the next two or three
years could help ameliorate the climate crisis, but “the window for making the
right choices is narrow and closing fast”.
1,500 coal
plants in construction in a world that needs renewable energy sources, not more
pollution. These are the investments
that need to be reprioritized if we are to dodge the climate change bullet.
Around 1,500 coal plants are estimated to
already be in construction worldwide, which would send the world spiraling
towards disastrous environmental changes. Carbon-heavy infrastructure
“literally kills people by causing deadly respiratory illnesses, exacerbating
road accidents and spreading unclean drinking water, among other hazards”, the
report reads.
“It also puts pressure on land and natural
resources, creating unsustainable burdens for future generations such as
unproductive soils and runaway climate change.”
Stern said the next few years will be
“critical” to the future of sustainable development and the battle to ensure
civilization isn’t ravaged by heatwaves, extreme weather, sea level rise and
other risks.
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