World must invest $5T by 2020 to combat global warming, IEA says

04/25/2012 | Bloomberg Businessweek

The world must invest $5 trillion in renewable energy, energy efficiency and low-carbon transportation by 2020 to neutralize the effects of climate change, according to the International Energy Agency. The renewable-energy industry is on course to meet its share of carbon-emission-reduction targets, but other sectors are lagging behind, IEA Deputy Executive Director Richard Jones said during a meeting of the Clean Energy Ministerial group in London. "Under current policies, we estimate that energy use and [carbon dioxide] emissions would increase by a third by 2020, and almost double by 2050," Jones warned.

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