Phasing out fossil fuels will require much more investment than the G7 says

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The phasing out of fossil fuels by 2100 has been announced by the G7.

The issue is, of course, dependent upon investment and as the Guardian reports, Angela Merkel said the leading industrialised countries were committed to raising $100bn (£65bn) in annual climate financing by 2020 from public and private sources.

Four things. First, note the delay, as ever.

Second, I do not think we have that long.

Third, note how low the estimate is. There has been many higher estimates.The International Energy Agency estimates that energy investment in excess of US$ 50 trillion will be needed by 2035 if we are to prevent more than 2°C of warming. The disparity is enormous.

Fourth, if you want proof of the need for Green Infrastructure Quantitative Easing then this is it.