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Delays on climate change have cost $8 trillion

2014-05-14 14:18:00| Climate Ark Climate Change & Global Warming Newsfeed

New Scientist: TIME is money, goes the saying. When it comes to climate change, two years of inaction has cost the world $8 trillion. A report from the International Energy Agency (IEA), published Monday, looks at the cost of converting to green electricity in order to keep global warming below 2 °C. The agency found that it will cost $44 trillion more than keeping the current mix, where most electricity comes from fossil fuels. The extra money will go on building wind and solar power stations, efficient grids,...

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