Copenhagen Failure Adds $1 Trillion to Climate Costs, IEA Says
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The failure to set emission cuts at last year’s climate talks in Copenhagen added $1 trillion to the price tag of preventing dangerous increases in temperatures, the International Energy Agency estimated.
Additional global spending of about $11.6 trillion will now be needed through 2030 to keep temperatures from rising more than 2 degrees Celsius (3.6 Fahrenheit), the Paris-based IEA said today in its World Energy Outlook report. That’s about $1 trillion most than the IEA forecast last year.