The United Nations has come out with a new report stating that a massive $5.3 trillion per year is needed to tackle climate change and prevent the Earth from getting warmer. This report by the U.N.’s Department of Economic and Social Affairs updates the world on the economic situation and what’s expected in 2024. It also talks about the U.N.’s 17 Sustainable Development Goals, which are goals that a lot of countries, especially in the West, use to shape laws about fairness, giving everyone equal chances, and how to handle climate change.
These goals cover a wide range of issues, like making sure everyone gets a good education, building sustainable cities and communities, and achieving gender equality. They also focus on getting affordable and clean energy for everyone and taking action on climate change.
The report says that the money spent on fighting climate change hit $803 billion in 2020, which was 12% more than in previous years. But now, the U.N. says that this amount is not nearly enough. They argue that to really make a difference and keep the Earth from getting too warm, we need to spend about $150 trillion by 2050. That’s $5.3 trillion every year. This money would be used to change the way we use energy and to upgrade our infrastructure.
The report also points out that countries haven’t been keeping up with their promises from the 2015 Paris climate agreement. Developed countries had pledged to give $100 billion every year by 2020 to help with climate change, but they only managed to give $89.6 billion in 2021.
On top of the climate change budget, the U.N. also suggests spending $35-$40 billion to make sure everyone in the world has electricity by 2030.
In this report, the U.N. isn’t shy about throwing around huge numbers. The word “trillion” comes up 52 times. But even with all this money they want to spend on climate change, the report notes that conflict and climate issues are still causing a lot of problems for people all over the world. The U.N. is worried that these problems are getting in the way of reaching their goals for sustainable development.
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