Global warming Threat Could be Solved by Subsidies

global warming threat

A recent study concludes that the current global warming threat could be solved by redirecting subsidies from fossil fuels to renewables.

The largest challenge faced by the world right now is the global warming threat. This climate change might raise sea levels and lead to abnormal changes in weather patterns. The changing climate could affect which types of food we can grow and the general geography of the planet. So if you want your coastlines to remain where they are today this is a problem you’d want to solve.

Global Warming Threat solved by subsidies?

In a recent study by David Mccollum and colleagues at the IIASA. The team focused the analysis on  the absolute most important factor globally when discussing climate change, the money. Mccollums team analyzed 6 different models that combined the data on several factors (greenhouse gas emission, energy requirements and investment costs).

The goal was to find the right approach for investments to keep the climate goal of a max global temperature increase 2°C, the agreed limit at the Copenhagen conference 2009. The gap to fill is between the 200 billion$ a year currently being invested on low carbon energy and the 1.2 trillion$ the team thinks will be enough to prevent higher than 2°C climate change.

So where do we find that kind of cash lying around?

Well the thing is that the investments in energy is already at 1 trillion$ per year however alot of this money is subsidizing fossil fuels instead of renewables.  So if the subsidies was redirected to solar, wind, and nuclear the goal wouldn’t be as far away. On the profitability side it might not even be a burden considering there might even be returns on those infrastructure investments.

Time is ticking on the 2°C goal and considering the damage already done by a measly 0.8°C change, you do not want to experience a more violent climate.