14 DAY TRIAL // The planet is heading fast to the land of an over 2 degrees Celsius (3.6 degrees Fahrenheit) increase in global average temperature, and fossil fuels are driving the bus.
The International Energy Agency says that, if human society is to even stand a chance of meeting its stated climate change goals, i.e. limit global warming and make sure emission concentrations in the atmosphere do not exceed 450 parts per million, hefty investments must be made in renewables.
More precisely, the International Energy Agency argues that, according to its estimates, it is mandatory that, by the year 2035, 48% of the world's total electricity output come from renewables alone, Clean Technica reports.
In order for this to happen, the world would have to cough out some $6 trillion (€4.45 trillion), and invest this money in harvesting green energy sources. Besides, subsidies offered for renewable energy by 2035 would have to amount to $220 billion (€163.4 billion).