{"id":2232,"date":"2022-02-05T16:12:10","date_gmt":"2022-02-05T16:12:10","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050"},"modified":"2022-02-05T17:08:14","modified_gmt":"2022-02-05T17:08:14","slug":"africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050","title":{"rendered":"Africa Expected to Spend More than Developed Economies to Achieve Net-Zero by 2050"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>According to a new report by management consulting firm, McKinsey & Company, an annual average of at least $9.2 trillion in spending would be required globally to achieve net-zero emissions by 2050.<\/p>\n

In order to meet these targets, lower-income countries and natural resource producers \u2013 nations primarily found in Africa and Southeast Asia \u2013 would be required to spend as much as 1.5 times more than advanced economies in proportion to their GDP on physical assets to support low-carbon infrastructure and transition towards a zero-emissions economy.<\/p>\n

Achieving net-zero emissions by 2050 would require significant investment in the energy, transit, industry, agriculture, as well as forestry and other land use sectors, with estimated spending expected to increase by as much as $3.5 trillion by the projected period.<\/p>\n

\u201cMany of these sectors would also incur cost increases as they decarbonize,\u201d the report by McKinsey & Company indicated, adding, \u201cFor example, steel and cement production costs would rise by about 30% and 45%, respectively by 2050.\u201d<\/p>\n

The report notes that volatile energy prices as a result of the energy transition pose a risk to fossil fuel resource producing countries, where larger proportions of the workforce, GDP, and capital stock depend on carbon-emitting industries.<\/p>\n

\u201cOne of the most immediate risks is that of a disorderly energy transition, if the ramp up of low-emissions activities does not take place fast enough to fill gaps left by the ramping down of high-emissions activities,\u201d the report noted.<\/p>\n

While developed nations in Europe and North America have set targets to limit carbon emissions by 2050, Nigeria\u2019s President Muhammadu Buhari joined other natural resource producing countries, such as Saudi Arabia and Russia, in committing to a 2060-target, pledging at the COP26 summit in Glasgow last year that it would use natural gas as a transitory source of energy \u2013 in accordance with the West African country\u2019s energy transition roadmap \u2013 to assist in reaching net-zero carbon emission targets a decade later than more industrialized nations.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. According to a new report by management consulting firm, McKinsey & Company, an annual average of at least $9.2 trillion in spending would be required globally to achieve net-zero emissions by 2050. In order to meet these targets, lower-income countries and natural resource producers \u2013 nations primarily found in Africa and Southeast […]<\/p>\n","protected":false},"author":84,"featured_media":2231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[233,237,234],"class_list":["post-2232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nAfrica Expected to Spend More than Developed Economies to Achieve Net-Zero by 2050 - Botswana<\/title>\n<meta name=\"description\" content=\"According to a new report by management consulting firm, McKinsey & Company, an annual average of at least $9.2 trillion ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Africa Expected to Spend More than Developed Economies to Achieve Net-Zero by 2050\" \/>\n<meta property=\"og:description\" content=\"According to a new report by management consulting firm, McKinsey & Company, an annual average of at least $9.2 trillion ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-05T16:12:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-05T17:08:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/02\/img-61feaee63d41f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Africa Expected to Spend More than Developed Economies to Achieve Net-Zero by 2050\",\"datePublished\":\"2022-02-05T16:12:10+00:00\",\"dateModified\":\"2022-02-05T17:08:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050\"},\"wordCount\":339,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/02\/img-61feaee63d41f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/africa-expected-to-spend-more-than-developed-economies-to-achieve-net-zero-by-2050\",\"name\":\"Africa Expected to Spend More than Developed Economies to Achieve Net-Zero by 2050 - 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