Baku ° C
Abandoning hydrocarbons to cost world $140 trillion
Energy
- 03 September, 2021
- 07:56
Complete abandonment of hydrocarbons by 2050 will cost the world $140 trillion a year, or 3% of world GDP, said Sberbank CEO Herman Gref.
According to him, Russia's energy exports may fall by more than $190 billion.
The head of Sberbank believes that two-thirds of the world's energy must be produced from renewable sources to achieve carbon neutrality. Among the possible consequences for Russia, he added, is a reduction in energy exports by $179 billion by 2035 and $192 billion by 2050.
In July, the European Commission published the first proposals to introduce cross-border carbon regulation in the EU. This will affect the largest exporters of greenhouse gas emissions to the EU.
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