The IPCC’s modelled pathways show that $2.4 trillion must be invested in new clean energy every year from 2015 through 2035, which, Bloomberg notes, is an almost sevenfold increase from the $333.5 billion invested in renewable energy in 2017. That is an aggregate investment of $48 trillion. The interest bill alone (at say 5%pa) would be $200 billion per month – more than the whole world currently spends on childhood education and environmental protection combined.
The report (C2.7) says that “the literature on total mitigation costs of 1.5°C mitigation pathways is limited and was not assessed in this report”. Others have calculated massive additional expenditure on energy efficiency, electricity transmission and storage, CCS and other carbon dioxide removal (CDR). But even these estimates do not attempt to put a price upon the “unprecedented changes in all aspects of society” called for by the IPCC.The "literature is limited" is pretty funny, with the astronomical sums demanded. So how does the science hold up on this? Judy Curry has a long and detailed analysis, but this is the key bit:
IMO, even with erroneous attribution of extreme weather/climate events and projections using climate models that are running too hot and not fit for purpose of projecting 21st century climate change, the IPCC still has not made a strong case for this massive investment to prevent 1.5C warming.The "Science is Settled" even when it's based on computer models "running too hot and not fit for purpose". But turn over your money and freedom right now or we'll call you a climate denier or something. Yawn.