In order to comply with the globalist “Net Zero” climate goals of the World Economic Forum (WEF) and United Nations (UN), taxpayers will need to spend a staggering $75 trillion, a group of leading analysts has revealed.
To put the figure into context, in 2023, it is estimated that the total amount of money in circulation around the world is roughly $40 trillion.
Nevertheless, the public will have to dig even deeper to cover the demands of the global elite to achieve aggressive international “climate change” goals.
The impossible “Net Zero” goals for “carbon emissions” set forth by the United Nations (UN) Intergovernmental Panel on Climate Change (IPCC) are expected to be met by 2050.
However, according to a new report from energy consultancy and research firm Wood Mackenzie, investments would need to total $75 trillion to meet the targets.
If the world is to meet the 2050 “Net Zero” carbon emission goals championed by Democrat President Joe Biden’s “climate czar” John Kerry, taxpayers would need to commit a whopping $2.7 trillion annually.
According to the analysis, global oil demand would also need to peak in 2023.
The demand for oil would then need to drop to 30 million barrels per day (BPD) from its current level of about 102 million BPD in order to reach the targets established by the IPCC, according to the report.
According to the UN IPCC’s website, the unelected globalist organization insists that achieving “Net Zero” by 2050 is the best way to keep global temperatures from rising by more than 1.5 degrees Celsius relative to pre-industrial levels.
Global energy-related emissions would also need to peak in 2023 to achieve global “Net Zero” emissions by 2050, according to the analysis.
While the U.S. and Western Europe have embraced expensive efforts to “decarbonize” their energy sectors, China permitted an average of two new coal plants each week in 2022, according to a report by the Centre for Research on Energy and Clean Air.
China is by far the largest polluter in the world, far exceeding any other country.
According to Climate Trade, China releases more “carbon emissions” into the atmosphere than the rest of the top five countries combined.
However, China bizarrely gets a free pass for the globalist “Net Zero” agenda.
Meanwhile, the global demand for energy is set to grow by 50% by 2050 relative to 2020 levels, according to the U.S. Energy Information Administration.
Yet, according to Wood Mackenzie’s analysis, the share of global power generated by fossil fuels would need to fall from its current level of about 80% to 20% by 2050 to meet the “Net Zero” demands.
In addition, the West would presumably need to overcompensate to account for the failures of countries in the Middle East, Africa, and Southeast Asia which are not subject to meeting the green agenda targets.
The more likely scenario is that the world will not meet the IPCC’s targets, according to Wood Mackenzie’s analysis.
In that base case, the governments of the world are projected to still spend about $2 trillion combined each year toward climate goals.
However, the IPCC’s targets would still be missed, even with the huge investment from taxpayers.
Beyond these considerable changes and expenditures, about 90% of all new vehicle sales worldwide would need to be electric vehicles (EVs) in order to reach the IPCC’s goal of limiting the total global temperature increase to 1.5 degrees Celsius relative to pre-industrial levels, according to the Wood Mackenzie analysis.
Aside from making the unrealistic financial requirements needed to me these unattainable “climate” targets, members of the taxpaying public will also need to drastically reduce their quality of life.
The WEF, UN, and their allies are pushing for the human race to give up private car ownership, the consumption of meat and dairy products, heating their homes, traveling, and physical cash, and surrender all rights to privacy to meet the green agenda targets.