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The Low Carbon Economy Ltd

28 Nov 2008 05:11:26

Coal costs world £300bn

Coal costs world £300bn
Carbon emissions damage, health expenses and mining accidents cost the global economy €360 billion (£298.7 billion), according to a new report.

The study, produced by CE Delft and Greenpeace, includes in its projected calculations billions of people who will suffer water shortages and food insecurity as a result of extreme weather events.

"When taking into account about 90 per cent of the global emissions and looking at these damages, we get a conservative but robust cost figure of €360 billion annually," said Agnieszka Markowska, damages expert from CE Delft. "With the projected rising damages due to the impacts of climate change, this total number is likely to increase sharply if climate change is not stopped."

But they do not just take climate change into account – air and water pollution was also included in the study.

Both the EU and the UK are supporting plans for the creation of plants that will demonstrate and develop carbon and capture storage technology that could reduce the emissions of a coal-burning plant by 90 per cent.

Meanwhile, campaigners are preparing to protest near the E.ON Kingsnorth plant where the company plans to build a new coal-burning facility.



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