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Climate change plan can generate $26 trillion for global economy

GOVERNMENTS and corporations can generate an extra US$26 trillion to the world economy by 2030 if they undertake an ambitious plan on climate change, the Global Commission on the Economy and Climate said on Wednesday. The think tank grouping of former government, economic and business leaders said the economic spillover from engaging in a low-carbon economy has been “grossly underestimated.” “Bold action could yield a direct economic gain of US$26 trillion through to 2030 compared with business-as-usual. And this is likely to be a conservative estimate,” the commission said in its annual report. SEE ALSO: Dumb, angry and unhealthy: The weird, lesser-known effects of climate change Over 65 million new low-carbon jobs can be created by 2030 and 700,000 premature deaths due to air pollution could be avoided if policymakers and corporations took on a dynamic action plan on global climate change. “Seizing the economic benefits of low-carbon and resilient growth will only be possible if we act boldly over the next two to three years,” it said. The commission also flagged the current situation as a “critical window” when current policy and investment decisions will shape climate change in the future. Shifting priorities The report highlighted five shifts that will drive the economic boost: the development of clean energy systems, improved urban planning, a shift towards more sustainable agriculture, smart water management, and decarbonising industry. With smarter urban development, the commission said more compact, connected, and coordinated cities are worth up to US$17 trillion in economic savings by 2050 and will stimulate economic growth by improving access to jobs and housing. “Better urban planning and strategic infrastructure investment, particularly the expansion of public and nonmotorised transport networks, can overcome bottlenecks to economic growth—such as congestion and air pollution—for more liveable cities,” the report said. SEE ALSO: How Shenzhen became China’s most sustainable... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, Climate change plan can generate $26 trillion for global economy, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you Climate change plan can generate $26 trillion for global economy

 

 

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Published By: ASIAN CORRESPONDENT - Thursday, 6 September, 2018

 

 

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