{"id":14228,"date":"2015-09-01T13:46:41","date_gmt":"2015-09-01T17:46:41","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/?p=14228"},"modified":"2015-09-01T13:49:15","modified_gmt":"2015-09-01T17:49:15","slug":"citi-agrees-fixing-climate-change-is-profitable","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2015\/09\/citi-agrees-fixing-climate-change-is-profitable.html","title":{"rendered":"Citi agrees fixing climate change is profitable"},"content":{"rendered":"

\nSave more by acting to fix climate change, on similar overall investment for trying to deal with unfixed effects, says
\n
\nCiti Global Perspectives & Solutions (GPS)<\/a>.
\nSave more on similar expense:
\nthat’s profiting by fixing climate change<\/a>.
\nFastest way to do that with least expense: deny all new pipelines, all LNG export, and end fracking.<\/p>\n

\n
\n<\/a>\n<\/p>\n

\nDana Nuccitelli, Guardian, 31 August 2015,
\nCiti report: slowing global warming would save tens of trillions of dollars:
\nA report from America\u2019s 3rd-largest bank asks why we\u2019re not transitioning to a low-carbon economy<\/a>,<\/p>\n

\n

\n“What is perhaps most surprising is that looking at the potential
\ntotal spend on energy over the next quarter century, on an
\nundiscounted basis the cost of following a low carbon route at
\n$190.2 trillion is actually cheaper than our ‘Inaction’ scenario at
\n$192 trillion. This, as we examine in this chapter, is due to the
\n
\nrapidly falling costs of renewables, which combined with lower fuel
\nusage from energy efficiency investments actually result in
\nsignificantly lower long term fuel bill<\/span>. Yes, we have to invest more
\nin the early years, but we potentially save later,
\n
\nnot to mention
\nthe liabilities of climate change that we potentially avoid<\/span>.”\n<\/p>\n<\/blockquote>\n

\nAs the Guardian article points out, this is not a new conclusion.
\nSee for example Mark Z. Jacobson’s fifty state plan<\/a>
\nfor powering the whole country from sun, wind, and water.
\nHere are
\n
\nJacobson’s numbers for Georgia<\/a>,
\nwhich include saving 2% of the state’s GDP in reduced mortality and illness,
\nin addition to eliminating fuel costs, reducing transmission losses, etc.;
\noh, and Savannah might not be underwatter.<\/p>\n

\nHow much profit for the U.S. by actively addressing climate change?<\/p>\n

\n

\n“By comparing the cost of mitigation to the avoided ‘liabilities’ of
\nclimate change, we can derive a simple ‘return on investment’. On a
\nrisk adjusted basis this implies a return of 1-4% at the low point
\nin 2021, rising to between 3% and 10% by 2035.”\n<\/p>\n<\/blockquote>\n

\nThat’s way higher than treasury bills and better than the stock market lately.
\nPlus Miami, New Orleans, and Boston might not be completely underwater.<\/p>\n

\nAnd as the Guardian article points out, most of this profit applies
\neven if no other country does anything<\/em>:<\/p>\n

\n
\n<\/a>\n<\/p>\n

\nAnd we know China, for example, already is acting<\/a>.<\/p>\n

\nSo we need to stop feeding the fossil fuel addiction by
\n
\ndenying any new pipelines<\/a>, denying all
\nLNG export<\/a>, and
\n
\nending fracking<\/a>.
\nWhile
\n
\npromoting sun, wind, and water power<\/a>, plus
\n
\nconservation and efficiency<\/a>.<\/p>\n

\n -jsq<\/p>\n","protected":false},"excerpt":{"rendered":"

Save more by acting to fix climate change, on similar overall investment for trying to deal with unfixed effects, says Citi Global Perspectives & Solutions (GPS). Save more on similar expense: that’s profiting by fixing climate change. Fastest way to do that with least expense: deny all new pipelines, all LNG export, and end fracking. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47,141,216,49,264,265,6124,559,6687,24,55,36],"tags":[8689,8690,8719,8745,8753,8721,8754,8755,8701,8702,12,7,562,8782,6076,218,8714,6,8727,8716],"class_list":["post-14228","post","type-post","status-publish","format-standard","hentry","category-climate-change","category-co2","category-coal","category-elections","category-energy-conservation","category-energy-efficiency","category-natural-gas-2","category-oil","category-pipeline-2","category-solar","category-water","category-wind","tag-citi-gps","tag-citibank","tag-climate-change","tag-co2","tag-coal","tag-elections","tag-energy-conservation","tag-energy-efficiency","tag-georgia","tag-lake","tag-lowndes-area-knowledge-exchange","tag-lowndes-county","tag-natural-gas","tag-oil","tag-pipeline","tag-profit","tag-solar","tag-valdosta","tag-water","tag-wind"],"_links":{"self":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/14228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/comments?post=14228"}],"version-history":[{"count":2,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/14228\/revisions"}],"predecessor-version":[{"id":14230,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/14228\/revisions\/14230"}],"wp:attachment":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/media?parent=14228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/categories?post=14228"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/tags?post=14228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}