$14 trillion. Or nearly the gross domestic product of the United States.
An unprecedented $14trn (£8.8trn) greening of the global economy is the only way to ensure long-term sustainable growth, according to a stark warning delivered to political and business leaders as they descended on the World Economic Forum in Davos yesterday.
Only a sustained and dramatic shift to infrastructure and industrial practices using low-carbon technology can save the world and its economy from devastating global warming, according to a Davos-commissioned alliance led by the former Mexican President, Felipe Calderon, in the most dramatic call so far to fight climate change on business grounds….
The extra spending amounts to roughly $700bn a year until 2030 and would provide a much-needed economic stimulus as well as reduce the costs associated with global warming further down the line, said Mr Calderon, who leads the alliance.
Um…how? You’re just redistributing wealth. Taking it from one group to give it to another. It’s like a Keynesian wet dream.
I have no problem with other countries pissing away their wealth — and the hypothetical, ever-dwindling wealth of their children and grandchildren — on this. If that’s what they want.
But of course that’s never what they want. They don’t want to spend their own money. They want the United States to redistribute its wealth to them.
They want the financial success of our free market, capitalistic system without abandoning their failed socialist experiments. So they try to convince us to give them our money in the name of Saving The Planet.
Thanks but no thanks.