Economic growth can continue while CO2 emissions are reduced says a new study conducted by the Energy Futures Lab and Grantham Institute of Climate Change at Imperial College.
Radical decarbonisation of the world’s energy sector can be achieved using pre-existing technologies that are either commercially available or awaiting approval.
The study found the transition to a future in low carbon energy would cost US$2 trillion a year by 2050, equating to approximately 1% of global GDP based on 2050 projection figures.
According to the research, carbon capture and storage technology and renewable energy sources should be high on governments agendas.
Read more at Grantham Institute for Climate Change