At the Paris Climate Conference, 195 countries adopted the first-ever universal, legally binding global climate deal. The International Energy Agency evaluated the deal at $13.5 trillion.
The global energy industry needs to invest $13.5 trillion through 2030 in efficiency measures and low-carbon technologies in order to meet climate-protection pledges by world leaders, the International Energy Agency said.
The expenditure, which includes deployment of nuclear, wind and solar power as well as carbon capture and storage, needs to average $840 billion every year from 2015, the IEA said Wednesday in a report. It said the growth in energy-related emissions “will slow to a relative crawl by 2030” if nations follow through with their pledges.
As of Tuesday, 154 countries representing 86 percent of global emissions had submitted their plans, Christiana Figueres, the UN’s top climate diplomat, told reporters at UN talks in Bonn.