This is according to a new white paper published by the WEF in partnership with global management consulting firm McKinsey & Company on Wednesday, Dec. 13. The paper, titled "The Role of Public-Private-Philanthropic Partnerships in Driving Climate and Nature Transitions," stressed that the world needs to spend up to $3.5 trillion on additional climate-focused investments each year "to reach net zero and restore nature" by the United Nations' end-date of 2050. (Related: Whistleblower calls for WEF founder Klaus Schwab to be ARRESTED over "crimes against humanity.")
This is equivalent to increasing today's level of private and public sector investments in climate change-related projects by over 60 percent. This also represents around half of global corporate profits, a quarter of world tax revenue and approximately seven percent of household consumer spending.
This also does not include the $1 trillion in additional spending the WEF estimates the world needs to divert from high-emission to low-carbon assets.
"Achieving net zero emissions by 2050 would entail a fundamental transformation of the global economy," wrote McKinsey.
To put the WEF's demand in perspective, the $3.5 trillion it wants on global climate spending annually is equivalent to nearly 60 percent of the annual federal budget of the United States.
WEF wants governments and the private sector to contribute to climate funding
The WEF is painting the transition to a global net zero emission economy as "a critical and necessary shift" that is also "unavoidably costly." To this end, the WEF is calling on governments to provide taxpayer dollars and for corporations to provide significant portions of their yearly profits to fund these investments.
"For partnerships to work effectively, various stakeholders should be willing to come together to bring collective as well as individual expertise and resources to find solutions," noted WEF Managing Director Gim Huay Neo. "Without working with other partners to find the right intervention points, it is difficult for a single institution to deploy their funds."
The massive costs allegedly lie in the extensive overhaul required of certain supposedly unclean industries that need to adopt more climate-friendly technologies and environmentally sustainable practices.
"The initial investments demand substantial funding, often beyond the capacity of many individual businesses or governments," wrote the WEF in a press release that accompanied the McKinsey report. "Bridging this divide necessitates collaborative efforts and innovative financing models to mitigate risks and incentivize investments."
"Joining private and public actors with philanthropic efforts offers a strategic approach to unlocking the transition to net zero and restore nature," the WEF continued. "Philanthropy, with its nimble and risk-tolerant characteristics, plays a pivotal role in providing early-stage funding, catalyzing wider investments while securing the most equitable outcomes."
The model of using philanthropy to spur more investments from corporations and governments when it becomes less risky to do so has already seen some initial successes, according to the WEF. Over the past 20 years, over 50 climate and nature-focused "philanthropic-public-private partnerships" have already been launched.
More globalist madness can be found at Globalism.news.
Watch this clip discussing how outgoing Prime Minister of the Netherlands Mark Rutte is shutting down farms all over the country to pave the way for WEF-owned, "climate-friendly" food hubs.
This video is from the channel The Prisoner on Brighteon.com.
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