Global Commission on the Economy and Climate finds that we are significantly underrating the benefits of cleaner, climate-smart growth. Bold climate action could deliver at least US$26 trillion in economic benefits, compared with business as usual.
Over the last years there has been great technological and market progress driving the shift to a new climate economy. There are real benefits to be seen in terms of new jobs, economic savings, effectiveness and market opportunities, and improved well being for people all over the world.
“The purpose of this is to demonstrate how to hasten the shift to this new growth path, the challenges ahead, and the clear accelerators or actions, that can be taken to fully reap the rewards of stronger, cleaner and more reasonable growth.
Policymakers should take their feet off the brakes, send a clear signal that the new growth story is here and that it comes with exciting economic and market opportunities. US$26 trillion and a more sustainable planet to offer.
The force from businesses, states, cities, investors and citizens is now unstoppable, because those taking bold climate action are already seeing tangible benefit. But if we are to unlock the full benefits of this new, low-carbon growth opportunity and avoid runaway climate change, economic and financial leaders in both government and the private sector need to do more, and fast.
The opportunities in five key economic systems – energy, cities, food and land use, water and industry – demonstrating that motivated action across these systems could deliver net economic gains compared with business as usual, while:
- Producing over 65 million new low-carbon jobs in 2030..
- Sidestepping over 700,000 premature deaths from air pollution in 2030.
- Produce, through just subsidy reform andcarbon pricing, an estimated US$2.8 trillion in government revenues per year in 2030.