In a report on Wednesday, the energy transition Council (etc), an international think tank, estimated that to achieve the goal of net zero emissions by the middle of the century, the world will need another $1 trillion to $2 trillion in new investment annually, equivalent to 1-1.5% of global GDP. When this goal is achieved, living standards in developed and developing countries will decline by less than 0.5% of global GDP in 2050, according to the report. < p > < p > according to the report, energy efficiency needs to be greatly improved; global power supply must grow 4-5 times a year to reach 90000-115000 terawatts, and the annual growth rate of wind and solar capacity needs to be 5-6 times higher than that in 2019. < / P > < p > in addition, electrification is required in the construction, transportation and industrial sectors, and hydrogen fuel should be used when electrification is not possible. Any remaining energy use should be decarbonized using carbon capture and storage technologies and Sustainable Bioenergy. < p > < p > according to the report, China has the resources and technology to become a rich, developed, carbon free economy by 2050. All developing countries should achieve net zero emissions by 2060 at the latest, but this will require development investment to attract private green investors. Privacy Policy