How much money do you think it will cost to save the world from a climate catastrophe?
According to King Charles III, it's about $5 trillion. Every year.
That’s what the British royal told a packed conference of green advocates and state leaders on Friday who flew from all around the world – many on private jets – to meet up at the plush United Nations climate summit in Dubai, known as COP 28.
Warning that the world is "hurdling into dangerous, uncharted territory," Charles, 75, said he was praying for "transformational action" to come out of the gathering.
"How can we bring together our public, private, philanthropic and NGO [non-governmental organization] sectors ever more effectively, so that they all play their part in delivering climate action?" Charles asked the crowd, which included former Vice President Al Gore and Secretary-General of the United Nations António Guterres.
Public finance alone won’t cut it, he added.
"But with the private sector firmly at the table… we could mobilize the trillions of dollars we need, in the order of four-and-a-half to five trillion a year, to drive the transformation we need."
To put that figure into perspective, it is about 20% of the U. S. Gross Domestic Product in 2022 which was $25.46 trillion, according to the Bureau of Economic Analysis.... (Read more)
Submitted 92 days ago