Bloomberg
Published Oct 25, 2019 03:25
Updated Oct 25, 2019 04:28
Morgan Stanley Says These Firms Will Profit From Climate Change
(Bloomberg) -- The world needs to spend $50 trillion on five areas of technology by 2050 to slash emissions and meet the Paris Agreement’s goal of curbing global warming, Morgan Stanley (NYSE:MS) analysts wrote in a report.
To reduce net emissions of carbon to zero, the world would have to eradicate the equivalent of 53.5 billion metric tons of carbon dioxide a year, according to the report, which identified renewable energy, electric vehicles, hydrogen, carbon capture and storage, and biofuels as the key technologies that could help meet the target.
Carbon emissions from fossil fuels hit a record last year, but estimates vary of how much it would cost to meet the Paris target of keeping the global temperature rise to within 2 degrees. The International Renewable Energy Agency says $750 billion a year is needed in renewables over a decade. United Nations scientists say $300 billion spent on reclaiming degraded land could offset emissions to buy time to deploy zero-carbon technologies.
Here are Morgan Stanley’s estimates for the five key technology areas and some of the 33 companies it says are set to benefit.
Renewables
Written By: Bloomberg
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