#617 - Dr Bjorn Lomborg - Climate Alarmists Are Getting It All Wrong
Modern Wisdom
The Impossibility of Net Zero as Climate Policy
Net zero is an impossible and expensive policy. We lack the technology and funding to achieve it. Most people talk about it but don't want to pay for it. Studies estimate that the cost of reducing carbon emissions by 80% for the average American would be more than $5,000 per person per year. It would be even more expensive to reach net zero. McKinsey's study suggests that achieving net zero would cost around $5 to $6 trillion per year globally, with India having to spend almost its entire budget. Even if the rich world went net zero, it would only reduce temperatures by about half a degree centigrade or one degree Fahrenheit, which wouldn't solve most of the problem.
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