Report: $90 Trillion Infrastructure Investment Could Combat Climate Change
The world will need to more than double its current infrastructure stock over the next 15 years – a massive undertaking which could either contribute to or combat catastrophic climate change – according to a new report.
Two thirds of the 90 trillion dollar infrastructure investment needed will be in developing countries, the Global Commission on the Economy and Climate noted in the Sustainable Infrastructure Imperative Report.
“The types of infrastructure we build – coal power plants vs. wind farms and solar arrays, for example, or mega-highways vs. public transit systems – will determine whether we stay on a high-carbon growth path or move towards a climate-smart future,” the report said.
Despite the massive price tag, the commission of global experts said that much of the money could be easily accessed by ending incentives to build dirty infrastructure, from fossil fuels to urban sprawl.
The report’s authors, including economist Lord Nicholas Stern, also emphasised that investing in green infrastructure can contribute to economic growth.