WORLD NEEDS $2.7 TRILLION ANNUALLY FOR NET ZERO EMISSIONS BY 2050

Global investment of $2.7 trillion a year is needed to achieve net zero emissions by 2050 and avoid temperatures from rising above 1.5 degrees Celsius this century, a report by consultancy Wood Mackenzie said on Thursday. Scientists have said the world ideally needs to limit global average temperature rise to 1.5C this century to avoid catastrophic effects from climate change. Many governments have pledged to reduce emissions to net zero by mid-century to help achieve this.

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