The world needs to spend $50 trillion on five areas of technology by 2050 to slash emissions and meet the Paris Agreement’s goal of curbing global warming, Morgan Stanley analysts wrote in a report.
To reduce net emissions of carbon to zero, the world would have to eradicate the equivalent of 53.5 billion metric tons of carbon dioxide a year.
The report also identified renewable energy and the companies or stocks that could help meet the target.
Stocks that stand to profit from this renewable shift are:
CGN New Energy Holdings Co., China Resources Power Holdings Co. and China Suntien Green Energy Co., NextEra Energy Inc.