Climate Facts: Switching to clean economy can raise $2.8trn through carbon price revenues, says UN

The complexities of climate change and its associated jargons can be difficult to understand.

TheCable’s quick climate facts will help demystify these concepts through easy-to-understand and straightforward explanations.

Here are some to keep at the tip of your fingers:

• The United Nations says climate adaptation share of total public finance was only 21 percent in 2020.
• Adaptation costs for developing countries may be in the range of $140 billion to $300 billion per year by 2030, the organisation said.
• In the Group of 20 countries, $250 billion has been directed to fossil fuels as opposed to only $146 billion to clean energy, according to the UN.
• The UN said switching to a clean economy could raise $2.8 trillion through carbon price revenues and the redirection of fossil fuel subsidies to public investments.
• According to the UN, over 160 firms with $70 trillion in assets have joined forces to steer the global economy towards net-zero emissions.