The Cost of Going Green

The United Nations estimates that developing nations will require foreign investments of $500–$600 billion each year for the next ten years in order to adapt to climate change without harming current infrastructure, according to a report released this week. The money will assist places like India, China, and Latin America switch to cleaner energy and grow drought-resistant crops so that they can continue to thrive, but with a sustainable, eco-friendly economy. This amount is significantly higher than the $21 billion currently spent each year by developed nations to help developing countries combat climate change. The report suggests a global carbon emissions tax of $50 per ton as one way to cover the hefty expense.