Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

King Charles: Pay $5 trillion annually to prevent climate catastrophe

by December 3, 2023
December 3, 2023
King Charles: Pay $5 trillion annually to prevent climate catastrophe

How much money do you think it will cost to save the world from a climate catastrophe?

According to King Charles III, it’s about $5 trillion. Every year.

That’s what the British royal told a packed conference of green advocates and state leaders on Friday who flew from all around the world – many on private jets – to meet up at the plush United Nations climate summit in Dubai, known as COP 28.

Warning that the world is ‘hurdling into dangerous, uncharted territory,’ Charles, 75, said he was praying for ‘transformational action’ to come out of the gathering.  

‘How can we bring together our public, private, philanthropic and NGO [non-governmental organization] sectors ever more effectively, so that they all play their part in delivering climate action?’ Charles asked the crowd, which included former Vice President Al Gore and Secretary-General of the United Nations António Guterres.

Public finance alone won’t cut it, he added. 

‘But with the private sector firmly at the table… we could mobilize the trillions of dollars we need, in the order of four-and-a-half to five trillion a year, to drive the transformation we need.’

To put that figure into perspective, it is about 20% of the U.S. Gross Domestic Product in 2022 which was $25.46 trillion, according to the Bureau of Economic Analysis.

Charles did not give a breakdown of who should pay what, or where exactly the money would go, although he did say that the funds should flow to projects driving sustainable changes and away from practices that ‘make our world more dangerous.’

Part of the funds, at least, would likely be placed in the Green Climate Fund, a United Nations fund tasked with helping developing countries mitigate and combat climate change. 

On Saturday, the U.S. pledged $3 billion to the fund, on top of an additional $2 billion previously delivered by the United States. U.S. Special Envoy for Climate John Kerry announced at the summit that the United States will not build any new coal plants and will phase out existing plants to limit global warming to 1.5 Celsius.

In his speech, Charles also called on different types of organizations to come together to fight climate change and asked for the world to ramp up investment in green, renewable energy.

‘Some important progress has been made, but it worries me greatly that we remain so dreadfully far off track,’ Charles said.

It is unclear if Charles will be donating to the fund. The Royal family is worth $28 billion, according to Forbes.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
US commits to shutting down its coal plants during COP28
next post
Santos vows to file ethics complaints against multiple lawmakers hours after expulsion from House

You may also like

Trump team drops new nickname for GOP contender...

December 31, 2023

Republicans declare Biden ‘unfit for office’ following ‘disastrous’...

June 28, 2024

George W. Bush and Barack Obama to Hold...

November 13, 2022

House Democrats Play Pretend: Pass Package of Bills...

September 23, 2022

Desantis, Haley, Ramaswamy, sitting side-by-side, get personal during...

November 18, 2023

Biden’s DOE “Pup Handler” Charged with Felony Theft...

December 9, 2022

DOJ considered letting the FBI monitor search for...

January 18, 2023

Conservatives rally around ‘rock star’ Leavitt after first...

January 28, 2025

Israeli deepfake detection start-up fighting disinformation during Gaza...

February 21, 2024

Hegseth interrupted by multiple protesters during Senate confirmation...

January 14, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • “YouTube is future-proofing itself”: leading producer backs AI crackdown to protect creative jobs

      August 7, 2025
    • Horizon victim Lee Castleton sues Post Office and Fujitsu for £4.5m in landmark legal claim

      August 7, 2025
    • Bank of England expected to cut interest rates to 4% amid weakening UK economy

      August 7, 2025
    • OpenAI in talks over $500bn share sale, potentially surpassing SpaceX in value

      August 7, 2025
    • UK construction activity slumps to lowest level since Covid amid housing slowdown

      August 7, 2025
    • Getting to Know You: Stuart Davis, CEO & co-founder, Dubs Universe

      August 7, 2025

    Categories

    • Business (8,698)
    • Investing (2,179)
    • Politics (16,329)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved