Maraaz 
Due to human activities and industrialization, the world has warmed an average of 2 degrees in the last two centuries. Therefore, global temperature records continue to be broken every few weeks. The increase in emissions is causing climate change and habitat destruction. In order to prevent the catastrophe that the world is dragged into, global carbon emissions must decline to zero by the middle of this century. However, according to the report released by the UK-based Energy Transition Commission (ETC). Achieving net zero emissions globally by 2050 will result in an estimated $ 1-2 trillion additional investment per year. It will cost 1-1.15 percent of global gross domestic product.
According to the Paris Climate Agreement, which entered into force in 2016 and was ratified by 175 countries. By the end of this century, global carbon emissions are targeted to drop to zero net so that the world does not warm by more than 1.5 degrees Celsius.
According to research by Stanford University. Since 2000, global warming has cost the US and the European Union at least $ 4 trillion. Tropical countries have become five percent poorer due to climate change.
However, according to the report of the Energy Transition Commission (ETC). Maintaining a global carbon-neutral economy is more expensive than living with climate change. According to scientists, an additional investment of $ 1-2 trillion annually is required to achieve net zero emissions by the middle of this century.
However, the investments in question correspond to 0.5 of GDP in 2050 living standards in developed and developing countries, and 0.5-1 of GDP in undeveloped countries.
ETC committed to achieving a carbon-free economy by 2050. It consists of 40 energy producers, industrial companies and financial institutions.
However, ETC’s Co-chair Adair Turner said that achieving the target is not impossible despite the costs.
