Climate change procrastination will cost more and more

Governments continue to put off strong climate change initiatives globally, as new studies have now revealed that the yearly cost of reversing global warming will be estimated between $130 to $190 US Billion dollars per year before 2020.

It is a difficult dilemma for the major polluters of the world, most of them first world and developed nations. They must all but willingly handicap many of their major industries if these trends are to be reversed.

A large part of this falls on the shoulders of the energy sectors.

An estimated 80-90% of the world’s energy comes from fossil fuels, and global energy consumption is growing at the rate of at least 2% a year.

But there are so many other factors.

Cars on the road, livestock, even the presence of humans themselves.

Few governments are willing to openly handicap their Gross Domestic Product when it means that their economies will shrink accordingly. It is unfortunate that the global financial crisis occurred when it did - at a time when climate forums and environmental groups were finally getting the point across - the focus and direction of the world’s leaders were irrevocably changed.

Climate Works has now estimated that reversing global warming will cost up to $185 US Billion (130 Euro Billion) a year before 2020, and that current government proposals will simply not be enough.

The World Wildlife Fund’s Global Climate Initiative gave a cost estimate of $160 US Billion (112 Euro Billion).

Most studies and experts estimate the reality is that to reverse the damages to the planet, it will cost the world’s economies 1 percent of global gross domestic product – the equivalent of over $400 US Billion (280 Euro Billion).

These figures will be all but ignored by most governments, who have spent far beyond this trying to stave off the effects of the financial crisis.

This money (estimated by the above studies) would need to be spent on new initiatives, green power, carbon emissions trading and capture, and even basic strategies such as mass tree plantings to overcome huge amounts of damage that has been inflicted on the planet.

Of course, incorrect or mistaken information doesn’t help, with the sceptics of climate change (yes, there are people that still hold firm to the belief that this is all just a natural cycle of mother nature) still delighting over Green peaces reversal of their statement that the Arctic will have ice free summers as soon as 2030.

The organisation has since retracted the comments.

The United Nations holds a climate change summit on September 22nd in New York. Hopefully it will not be another major international assembly where no formal implementations are achieved.

Before any of this has any success, the first initial hurdle is for governments to quite simply agree. In many countries any climate initiatives or carbon deals are being held up in senates or opposition houses.

For the sake of the next hundred years, for the future of our planet and children, let us hope that the changes occur soon.

Every minute hurts.