China & India need $50 trillion for Net-Zero transition, report says
4 hours ago
From NOT A LOT OF PEOPLE KNOW THAT
APRIL 11, 2022
By Paul Homewood
Get your wallets out!
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Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa — will together need $94.8 trillion in transition finance from developed markets if they are to meet climate goals
India will need investments worth $12.4 trillion, nearly half of U.S. GDP, from developed nations and investors to help its economy transition to net-zero carbon emissions by 2060, according to a report.
Without capital inflows and grants from the developed world, emerging economies including India’s will see household consumption fall by 5% on average each year, according to a study by Standard Chartered Plc.
Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa — will together need $94.8 trillion in transition finance from developed markets if they are to meet climate goals without affecting their citizens’ cost of living, the report said. China alone will need $35.1 trillion, the calculations show.
https://wattsupwiththat.com/2022/04/13/china-india-need-50-trillion-for-net-zero-transition-report-says/
