Joe Biden’s climate plan will do ‘virtually nothing’

Fox Business channel's Varney & Co. and The Independents asked Lomborg about the UN IPCC reports' findings on climate change and how to tackle global warming smartly.

According to popular wisdom, 2016 was a terrible year. Horrific terror attacks struck many countries. The Syrian crisis claimed tens of thousands of lives. Turkey withstood suicide bombings and a failed coup. More than 70 countries experienced a decline in freedom. Political shocks included Brexit and Donald Trump’s victory in the United States’ presidential election – both unforeseen by the media or political elite. Zika was declared an international public-health emergency. The year is likely to be the warmest ever measured.

This year, the world will spend $US162 billion ($230bn) subsidising renewable energy, propping up inefficient industries and supporting middle-class homeowners to erect solar panels, according to the International Energy Agency. In addition, the Paris Agreement on climate change will cost the world from $US1 trillion to $US2 trillion a year by 2030. Astonishingly, neither of these hugely expensive policies will have any measurable impact on temperatures by the end of the century.