USA HISTORY

Detailed explanation-1: -Democratic presidential candidate Joe Biden is pitching a $5 trillion-plus climate proposal that he says would lead the U.S. to net zero emission of carbon pollution by 2050. Biden’s plan calls for $1.7 trillion in federal spending over 10 years, with the rest of the investments coming from the private sector.

Detailed explanation-2: -Global investment needed for net-zero goal The economic transition scenario requires annual investment to double from the 2021 level of $2 trillion per year to $4 trillion, while the net-zero scenario requires annual investment to more than triple to $6.7 trillion per year.

Detailed explanation-3: -FRANKFURT, Oct 7 (Reuters)-Investments of $270 trillion are needed for the planet to meet a climate target of net-zero emissions by 2050, Swiss Re (SRENH. S) said in a study on Friday that underscores the daunting challenge of the effort.

Detailed explanation-4: -Six characteristics define the net-zero transition The transformation of the global economy needed to achieve net-zero emissions by 2050 would be universal and significant, requiring $9.2 trillion in annual average spending on physical assets, $3.5 trillion more than today.