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Red flags all over The cost of writing off stranded assets could reach $900 billion – or one third of the current value of big oil and gas companies – if governments aggressively tried to meet the limit of 2°C. Consider the financial burden of this figure amid lower oil prices, the economic strain of the pandemic, plus the cost of the energy transition. Wood Mackenzie expects a minimum of $30 trillion to $40 trillion of investment is needed to put the world on a 2°C or lower pathway. Variances too Of course, the potential financial strain will differ region-to-region. For example, oil and gas will remain a central part of the Middle East’s energy basket up to 2050. This is not a failure, but key to sustaining energy security as the world finds its greener footing.

France generalWood mackenzieGlobal commission on adaptationEllen mcarthur foundationCoil globalImage creditMiddle eastMiddle easternParis agreementIndustrial revolutionEllen mcarthurGlobal commissionEcological threat registerபிரான்ஸ் ஜநரல்மரம் மெக்கன்சிஉலகளாவிய தரகு ஆன் வேறுபடுத்தி அமைத்தல்