China & India need $50 trillion for Net-Zero transition, report says

From NOT A LOT OF PEOPLE KNOW THAT

APRIL 11, 2022

By Paul Homewood

Get your wallets out!

image

Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa — will together need $94.8 trillion in transition finance from developed markets if they are to meet climate goals
India will need investments worth $12.4 trillion, nearly half of U.S. GDP, from developed nations and investors to help its economy transition to net-zero carbon emissions by 2060, according to a report.
Without capital inflows and grants from the developed world, emerging economies including India’s will see household consumption fall by 5% on average each year, according to a study by 
Standard Chartered Plc.
Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa — will together need $94.8 trillion in transition finance from developed markets if they are to meet climate goals without affecting their citizens’ cost of living, the report said. China alone will need $35.1 trillion, the calculations show.
Developing economies have raised concerns about richer nations not meeting their climate finance commitment of $100 billion, made in Paris in 2015. India sought 
$1 trillion in funding from the developed world to help meet its net-zero goal by 2070, during the global climate talks in November.   
If India’s financial needs are provided by developed markets, household spending in its economy could increase by $7.9 trillion. Instead, if India were to self-finance its transition costs, the average Indian household spending could fall by as much as $5.8 trillion, according to the report.
The study suggests a mix of blended finance or joint spending by the public and private sectors to subsidize the cost of capital to cut investments risks, coupled with issuing sovereign green bonds by emerging markets as possible solutions to bridge the funding gap for climate change.
“If developed markets fail to channel net-zero investment into emerging markets while working on their own transition, there will be devastating implications for the planet,” the report said.

https://www.bloomberg.com/news/articles/2022-04-05/india-needs-12-4-trillion-for-net-zero-transition-report-says?mc_cid=9acd144434&mc_eid=4961da7cb1

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griff
April 13, 2022 2:07 am
lee
Reply to  griff
April 13, 2022 2:23 am

Out of 1356 BU.

Bryan A
Reply to  lee
April 13, 2022 6:57 am

Hey…Griff…
https://www.reuters.com/world/india/coals-share-indias-power-mix-hits-highest-over-2-years-2021-04-08/

A consistent rise in the share of renewables culminated in coal’s share in electricity generation falling below 60% for the first time in decades on Aug. 12.

Just over five months later, coal’s contribution to daily power output rose to more than 80% for the first time in at least 750 days on Jan. 20

ATheoK
Reply to  lee
April 14, 2022 7:51 pm

Hmmm giffie doesn’t understand it’s level of ignorance and specious circular logic.

18% of 68.77 = 12.4 BU (Terawatts?)
That is, India’s solar generation increased 12.4 BU from 2021.

12.4 of 1356 total BU is1.0% (actually 0.9% rounded up)

Whaddya think, giffie? Does that mean India got an 2.5 extra sunny days since 2021?

Scissor
Reply to  griff
April 13, 2022 4:09 am

Drops to zero every day.

David A
Reply to  Scissor
April 13, 2022 6:08 am

Exactly. They could spend a billion trillion dollars, and, sans nuclear development, they would have a far far worse system that was tragically unreliable, not be close to net zero, and have created immense environmental problems on a massive scale.
What can’t be done won’t be done.

Redge
Reply to  griff
April 13, 2022 4:23 am

You really are a card, Griff mate

Andrew Wilkins
Reply to  griff
April 13, 2022 4:28 am

What happens to the 68.77 BU at night time?

Bryan A
Reply to  Andrew Wilkins
April 13, 2022 9:01 am

0.00 BU
BU- Being Useless??

jeffery p
Reply to  griff
April 13, 2022 5:28 am

Big whoop! If I have one solar panel and add a new one, I’ve doubled solar generation.

And completely relevant and on topic, too.

Last edited 1 month ago by jeffery p
Reply to  griff
April 13, 2022 8:09 am

Indian solar generation up 18.8 %

So their gas up by the same amount, working inefficiently on-off so more CO2 than gas alone with no wind.

Last edited 1 month ago by Phil Salmon
LdB
Reply to  griff
April 13, 2022 9:05 am

At that rate it will take about 250 years to transition.

ATheoK
Reply to  LdB
April 14, 2022 8:34 pm

Not exactly, LdB.
Remember, solar has to be replaced every 20-25 years With the old panels going to the local landfill.

Maintenance and replacement costs to replace solar panels that renewable energy is unable to produce, along with non-renewable mining, smelting, refining, assembly and installation.

All fossil fuel produced components, parts and labor along with subsidies for renewables.

Such a waste by misguided idiots..

Andy Pattullo
Reply to  griff
April 13, 2022 9:53 am

So?

Kevin McNeill
Reply to  griff
April 13, 2022 12:26 pm

And?

Mike Lowe
Reply to  griff
April 13, 2022 12:48 pm

Percentages work very well from a very low base!

b.nice
Reply to  griff
April 13, 2022 3:43 pm

“Indian solar generation up”

What time of night is that, griff?

Alba
Reply to  griff
April 14, 2022 3:27 am

Okay, griff, I’ll raise you.

India’s coal demand to top 1 billion tonne in 2022, push net ..

Read more at:
http://timesofindia.indiatimes.com/articleshow/88346693.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Last edited 1 month ago by Alba
lee
April 13, 2022 2:18 am

Did they calculate how much it would cost developed nations in giving this largesse? Or are mere mortals not to know that?

Old Man Winter
Reply to  lee
April 13, 2022 4:02 am

As usual, we get the mushroom treatment- they keep us in the dark &
feed us BEE ESS! 😮 😉

Last edited 1 month ago by Old Man Winter
Old Man Winter
Reply to  lee
April 13, 2022 4:04 am

mere mortals => mere morels

Fixed it for you! 😉

Scissor
Reply to  Old Man Winter
April 13, 2022 4:50 am

I hope to find some again someday.

Philo
Reply to  lee
April 13, 2022 8:30 am

The wildly, huge price tags the International Energy Agency put on the less developed nations are just an “economic” model prediction. Oddly, they don’t put out much in terms of real money!! Think of how accurate and useful the “climate change” models have turned out(“not!) China has already “spent” most of it’s share within China and/or loaned it to other developing countries.

While some of the more developed countries, such as some European countries, such as France, England, Germany, have run into their own development walls and won’t be able to effectively do much. Neither will China. They have already way overspent and are wringing the last yen out of the current workforce.

The big budgets and ambitious goals are all, at this stage, figments in the minds of international economists who think they understand how economies work. As Old Joe has shown in the US, the economy of any country is limited by physics i.e. in the continental US solar panels theoretically will double in the next six years. It’s highly unlikely there are enough grade school kids in the “Lithium” countries of central Africa to meet that goal, much less lithium production for themselves.

At this point, nobody can make realistic guesses for what a complete, world-wide build out of solar power will cost. Only roughly half of the needed systems have been developed. Right now the best estimate comes from Toyota for auto electric batteries. They have built some successful solid state iron-lithium batteries that work and are smaller, higher capacity, and will not burn in an accident. They developed the batteries for newer hybrid and electric vehicles and are expected to be only slightly higher in cost than the original cells.

With all that, get a ton of salt and take a little lick for every glowing solar power review you read, DON’T EAT MUCH!!!!

Robertvd
April 13, 2022 2:24 am

It will be a lot more in $ if the value of that fiat currency plunges to worthless. But than most Americans will belong to the 1% and pay the corresponding taxes for that privilege.

Bryan A
Reply to  Robertvd
April 13, 2022 7:07 pm

China doesn’t NEED $35T to conform to low carbon standards, China wants to RAP3 the World and hold it hostage for $35T. They already produce sufficient (Crappy) Solar Panels and Wind Turbines to power their own country without emissions. They COULD be the first Zero Emission Country GLOBALLY. But then they couldn’t sell those same Crappy Panels and Turbines to the Suckers of the World. The very reason that they’re still installing Coal Power is that they KNOW their panels and Turbines are CRAP

DHR
April 13, 2022 2:55 am

And what is the cost to build technology that doesn’t exist?

Spetzer86
Reply to  DHR
April 13, 2022 4:32 pm

With materials that most people say exceed existing supplies. How far down the rabbit hole do you have to go?

Joao Martins
April 13, 2022 3:07 am

China & India need $50 trillion for Net-Zero transition
The question is, they don’t need “Net-Zero transition”, so why spending money on it?

Old Man Winter
Reply to  Joao Martins
April 13, 2022 5:11 am

You nailed it right on the head!!!

Nobody tells China or India what to do. They assess situations & do what’s
best for themselves, which is what every nation should do. Western nations
sold out their sovereignty & people for the sake of globalism long ago.

Net Zero’s a marketing ploy to sucker nations into the Glow-bull scam & is
just a waste of money. Both will pretend to support it for any money they
can milk from the West & money they can make selling the West alternative
energy products. Both will continue expanding nuclear & 24/7 solar as
they’re the only real ways to meet their growing energy needs. They’ll
use alternate energy where it makes sense. The other nations will do the
same thing. Very practical people!

Last edited 1 month ago by Old Man Winter
THOMAS ENGLERT
Reply to  Old Man Winter
April 15, 2022 8:47 am

May I suggest limiting your LF/CR usage to make your comments more readable?

jeffery p
Reply to  Joao Martins
April 13, 2022 5:31 am

China has no intention to work towards, much less achieve Net-Zero. What’s their incentive?

Walter Sobchak
Reply to  jeffery p
April 13, 2022 8:36 am

They love to watch white people make fools of themselves while the Chinese become the worlds sole industrial power.

Vuk
April 13, 2022 3:12 am

China & India need $50 trillion for Net-Zero transition Let’s have Germany first show them how it can(‘t) be done
All nonsense, waste of time discussing something that ain’t going to happen.
You are more likely to get ‘net zero’ energy out of this most fascinating aurora from (been and gone) 5 days ago.
comment image
tech details
Camera Used: NIKON CORPORATION NIKON Z 6
Exposure Time: 3/1
Aperture: f/2.8
ISO: 5000
Date Taken: 2022:04:08 00:42:05
Photographer’s name/website not accessible..

jeff corbin
Reply to  Vuk
April 13, 2022 8:03 am

Awesome… G storm hit. Thanks the wonders of nature are a great antidote for such blabber.

PCman999
Reply to  Vuk
April 14, 2022 1:55 pm

Photographer’s name is right in the bottom right corner!

April 13, 2022 3:23 am

I see this as good news. Further proof that the silly energy transition cannot happens.

Rud Istvan
Reply to  David Wojick
April 13, 2022 6:58 am

Precisely.

VOWG
April 13, 2022 3:35 am

There will never be any such thing as net zero.

Chaswarnertoo
Reply to  VOWG
April 13, 2022 5:56 am

Net zero is a very stupid idea.

Ron Long
April 13, 2022 3:41 am

The eight “emerging” nations need $94.8 Trillion to reach Net Zero? How much mitigation/adaption does $94.8 Trillion buy? Let’s say there are 4 Billion persons in these “emerging” countries, so that’s $2,370.00 per person. If you offered each person, including babies, $100.00 to call the whole thing off, what a savings, especially since Net Zero is fantasy.

Scissor
Reply to  Ron Long
April 13, 2022 4:19 am

It will be interesting to see what happens when there is more money in circulation than could possibly be earned in the totality of everyone’s working lifetimes.

Philo
Reply to  Scissor
April 13, 2022 9:06 am

Barter, gambling, prostitution, swindling(like the UN), horned toads in Antarctica,,,,,….

jeffery p
Reply to  Ron Long
April 13, 2022 8:26 am

How many nuclear reactors does that buy?

Bryan A
Reply to  jeffery p
April 13, 2022 6:59 pm

Diablo Canyon was considered expensive at $2.8b per 1100MW unit
2.8b per
28b – 10
288b – 100
2.8T – 1000
28T – 10,000
94T – 33,000+/-
33,000 1.1GW = 36,300GW

Graeme#4
Reply to  jeffery p
April 14, 2022 3:37 am

Barakah in the UAE, when complete, will cost around US$24bn, and will supply 5.6GW.

Peta of Newark
April 13, 2022 4:47 am

India, China, anybody needs that kind of money like they need a hole in the head. The folks ‘calculation’ and asking for are exactly = Doctor Evil – as he coyly sucks his pinky and suggests One Million Dollars

Two ways to go:
1/ Assuming some person/organisation does have the money – what are they going to get in return?

2/ Assuming western governments ‘Do a Trudope‘ and confiscate the banks/savings accounts of their electorate and then Give The Money Away to these deserving causes, how can anybody in this Modern World be unaware of the damage that would do to everybody and everything?
It would instantly devalue that money to almost zero, drive epic cronyism & corruption and send inflation skyrocketing for both the givers and receivers.

Even if that didn’t happen, what will the recipients spend it on?
There is only One Place where ‘stuff’ comes from.
i.e. That sort of money ‘spent wisely’ on tech and infrastructure, will only go to destroy the environments & peoples of where the ‘stuff’ comes from = the very opposite of what was intended to happen.

suicidal genocidal madness

Richard Page
Reply to  Peta of Newark
April 13, 2022 1:17 pm

India and China quickly cottoned onto the fact that the western industrial nations weren’t going to pay into the green climate fund required in the Paris agreement and that reducing their own economies to make westerners feel better was a complete non-starter. So they developed a strategy where they would pitch their ‘price’ to decarbonise well above what anyone could afford, then just sit back, continue their growth whilst paying some small token amount to ‘net zero’ and watch the west scramble around and have a complete meltdown – eventually Paris will fail completely, leaving China and India in a much stronger position.

fretslider
April 13, 2022 4:50 am

India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa — will together need $94.8 trillion in transition finance”

Well, they’d better start saving up then.

Kevin kilty
April 13, 2022 5:28 am

Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa — will together need $94.8 trillion in transition finance from developed markets if they are to meet climate goals without affecting their citizens’ cost of living

$95 trillion. Finally we’re talking real money.

Last edited 1 month ago by Kevin kilty
Old Man Winter
Reply to  Kevin kilty
April 13, 2022 6:16 am

That Nigerian prince is more honest than the Net-Zero scamsters! 😮 😉

Allan MacRae
April 13, 2022 6:07 am

“China & India need $50 trillion for Net-Zero transition, report says”
The report further discusses the financial needs of the Tooth Fairy and the Easter Bunny.

Dr Ken Pollock
April 13, 2022 6:30 am

I’ve read through the comments and saw that no-one has made the most obvious point.

Even the original Bloomberg article says there were 8 countries, but they put South Africa in twice – so it is really 7! Unless there are two “South Africas” and I have missed the distinction…

Bloomberg is not always reliable on money. Michael Bloomberg told the Today programme on BBC Radio 4 that the UK had a £90 bn surplus on its trade with the EU. Sad – he got it the wrong way round, and the Today programme did not correct him – they told me we “didn’t want to interrupt the flow of the interview”.

So be careful with numbers from that source…

Richard Page
Reply to  Dr Ken Pollock
April 14, 2022 3:36 pm

Just to be a right sod most places mention the top 10, with Mexico, Argentina and Brazil making the cut. So either way it’s the wrong number!

Gregory Woods
April 13, 2022 7:34 am

Lotta bucks there, too bad I am broke…

Doc Chuck
Reply to  Gregory Woods
April 14, 2022 2:10 pm

No problem Greg. I’ve generously just produced 50 one trillion yuan paper notes (no doubt the first of their kind), which like any truly professional politician I’m prepared to distribute for the benefit of the bulk of humanity who don’t possess a printer of their own. And that’s alright, don’t thank me. Really it was the least I could do — for the children!

jeff corbin
April 13, 2022 8:00 am

India loves CNG vehicles and buys it’s NG from Qatar, Gazprom, Putin aligned central Asia countries and Iran. Only 10% of US NG production is exported. We export the most LNG to China three time more than we export to India.

Netcrazy

April 13, 2022 8:16 am

The Ukraine war has divided Eurasia from the “west”.

From now on India-Russia-China will do their own thing politically, militarily and economically. One can confidently predict that they will tell us in the “west” to put our Catholic-apocalyptic climate agenda firmly in that place where solar panels will never work.

Any remote chance of global action on climate has vanished in Ukraine.

PCman999
Reply to  Phil Salmon
April 14, 2022 2:05 pm

Don’t blame that crap on the Church – Pope Francis only jumped on the bandwagon that already built and full of New Age/pagan/atheists. Pope Benedict had no time for such crap and most Catholics cringe and rush to find a paper bag to put over our heads wherever Pope Francis comes out with another encyclical from the cult of pachamama instead of Christ’s Church.

DMacKenzie
April 13, 2022 8:44 am

Assuming money is a measure of human effort….that’s a lot of human effort…and they really need to decide if it’s worth it or not….

April 13, 2022 9:04 am

Good luck with that!

Rich Lentz(@usurbrain)
April 13, 2022 9:14 am

The Bloodroot flowers that I have posted about several times here finally appeared yesterday! A week latter than the average appearance for the last 25 years.
Seems like the Climate Change activists are right, that is the ones from the 1970’s “The Ice Age is coming back!” That or all Climate change proponents, activists, grifters and supporters are spreading Bovine excrement.

Last edited 1 month ago by usurbrain
Andy Pattullo
April 13, 2022 9:52 am

Wait a sec, I’ll check my wallet. Nope, sorry.

Mike Maguire
April 13, 2022 10:15 am

The crazy, impossible numbers NOT rooted in any sort of real world, realistic dynamics, predicting extreme, near 0 probabilities for climate outcomes and articles like this, which actually are more profound evidence of how far fetched and unachievable these projections are.
The ironic thing is that a transition similar to this will CAUSE harm to these countries compared to using rational principles of science/physics, energy and authentic meteorology/climate.

Gary Pearse
April 13, 2022 10:43 am

$94 trillion. That means an emphatic NO! to US and EU plans.

MJB
April 13, 2022 11:54 am

The UAE has a GDP similar to Canada, and higher than France, UK, or Japan. Curious how they made the list.

Bob
April 13, 2022 12:08 pm

Zero money for net zero transition period. Not just developing nations but developed nations also. It is time to put this miserable mess behind us.

Grumpy
April 13, 2022 2:14 pm

Statistics and numbers generated from studies funded by pro-Green Energy will only show the most favourable view of Green Energy. If DuMarier and Winston had funded studies from which they gained their data, then the only way to save the planet is for everyone to start smoking.

Peter
April 13, 2022 5:21 pm

No wonder the hedge funds and big fund managers are salivating so heavily. Think of the huge profits generated from the tax loss financing.
And China. Whew. That’s a lot of product to sell.

Robert of Texas
April 13, 2022 6:30 pm

Excuse me…but if Climate Change is going to destroy the world, then wouldn’t it behoove India and China to make the change? I mean, they are part of “the world” are they not? Why is it always up to the U.S. to pay for everything?

Alba
April 14, 2022 3:23 am

Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa 
Eight? Are there two countries called South Africa?

Richard Page
Reply to  Alba
April 14, 2022 3:32 pm

The second South Africa should probably read ‘South America’ and, yes, before you correct my classifying South America as a single country I’m only saying that because the top 10 emerging markets also include Mexico, Argentina and Brazil. Basically the article should have mentioned the top 10 and included the last 3 if we’re going to be particular about such things.

PCman999
April 14, 2022 1:48 pm

Well, that’s a non-issue now – we’ve been assured by the media and governments and of course alarmist scientists that unreliable “renewables” are the cheapest sources of energy so no transition required. These countries already have plans to grow their energy economies usually by several multiples of what they have now, so by the woke ‘facts’ and logic, as they build out their grids and systems with wind and solar, etc., alone their power production will naturally get ‘greener’ and greener.

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