Latest Prognistication: Not Acting On Hotcoldwetdry To Cost $44 Trillion

Prognostication or scary fable?

(CNBC) Up to $44 trillion could be going up in smoke if the world does not act on climate change, according to the latest piece of research from U.S. banking giant Citigroup.

The report – Energy Darwinism II: Why a Low Carbon Future Doesn’t Have to Cost the Earth — has forecast that spending on energy will hit around $200 trillion in the next 25 years.

The study then examines two scenarios: one that Citi describe as an “‘inaction’ on climate change scenario”, and another that looks at what could happen if a low carbon, “different energy mix” is pursued.

“What we’re trying to do is to take an objective view at the economics of this situation and actually look at what the costs of not acting are, if the scientists are right,” Jason Channell, Global Head of Alternative Energy and Cleantech Research at Citi, told CNBC Tuesday.

“And those are rather alarming numbers in themselves,” he added. “I mean, the central case we have in the report is that the costs in terms of lost (gross domestic product) GDP from not acting on climate change can be $44 trillion dollars by the time we get to 2060.”

So if we don’t do something, economic doom by 2060? Riiiiiight. This couldn’t possibly have anything to do with Citi wanting to make some cash off pushing “climate change” policies, especially with the big Paris IPCC meeting, could it?

The Citi report comes a few months before December’s crucial United Nations COP21 meeting in Paris. The meeting is seen as hugely significant, with the aim of reaching an agreement to keep global warming below two degrees centigrade.

Channell said he had high hopes for the summit. “What’s so exciting about Paris this year is that it’s the first time that all of the players are arriving with positively aligned intentions, including the big emitters: the US and China, who’ve obviously got their own accord between the two of them.”

Na, couldn’t be about money and control.

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3 Responses to “Latest Prognistication: Not Acting On Hotcoldwetdry To Cost $44 Trillion”

  1. Hank_M says:

    This would be the same citigroup that announced plans to invest $100 Billion in so-called clean energy last February.

    Nice scam. Invest in green then scare everyone into purchasing it.

  2. david7134 says:

    This is the same organization that helped Barney Frank cause the worst depression we have ever had, and are still in. Ya, I am going to listen to them.

  3. jl says:

    Latest, latest prognostication: acting on hotcoldwetdry will cost 45 trillion.

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