While this is not an IB Economics commentary article, this video provides a great idea about how to reach zero emissions by 2050. As Gates argues, we should use alternative ways for generating “electricity, transportation, growing food, heating buildings and making materials like steel and cement” without emitting greenhouse gases. However, right now, these alternative energy sources might be very expensive. To give you an idea, the price of biofuel used in jet engines is more than double the price of fossil-based jet fuel. That difference in the current prices and the zero emission alternative’s prices is known as the green premium. Therefore, we need a huge increase in research and development and investment into new technology that can make that green premium as low as possible. That way, the zero emission alternatives would not be more costly and the transmission to no carbon emissions would be much more possible.
Source of image: YouTube, Channel: Bill Gates
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