Does climate action make economic sense?

Share this & earn $10
adelphi, Berlin
Published at : 20 Nov 2020
1074 views
9
0

The economic and social benefits of climate action are enormous. Our new video explains why we should invest in fighting climate change and shift our economy onto a sustainable, climate-compatible path. Watch more videos on environment, conflict, cooperation, and climate diplomacy on our video platform (www.video.ecc-platform.org).

We are facing a major challenge. If it is not addressed, the consequences will be costly. It is clear from the science that time is running out to act on climate change. But many believe that climate action is too expensive. It seems we have a choice to make. But do we? Is this really a dilemma?

The next 15 years of investment will be decisive. Over this time we are expected to spend 89 trillion dollars on the world’s infrastructure. So we should be asking ourselves: How do we invest to foster sustainable economic development? How do we invest to maximise prosperity and minimise risks? In short, how do we invest our money wisely?
By increasing our investment from 89 to 93 trillion dollars we can make our infrastructure climate compatible. This is a higher upfront cost, but the benefits down the track are huge.
There are many key economic sectors where climate smart investments can achieve multiple real world benefits. Renewable energy improves energy security, creates jobs and reduces air pollution. Every year 8 million deaths globally can be attributed to exposure to air pollution indoor and outdoor.
Protecting forests and restoring agricultural lands reduces emissions whilst also boosting food and livelihood security.
Restoring just 12 % of the world’s degraded land could feed 200 million people by 2030. Most of the infrastructure will be built in cities and once it is built, it will be hard to change. Implementing solutions like smarter urban planning, better public transport and efficient buildings we can not only reduce emissions in the long term, but also help build more efficient, competitive, and liveable cities. These cascading benefits of climate action appear in many other policy areas. And even though they are usually difficult to quantify, they are real and significant.
What is often overlooked, is that there are many costs associated with our high-carbon systems. Costs that are locked in and have a high risk of growing in the future. Globally, the fossil fuel subsidies reached 490 billion dollars in 2014.
We need to shift our economy onto a sustainable climate compatible path. It requires higher up front investments but it will be much cheaper in the long term. International financing mechanisms as well as technology sharing institutions are available to support this process.
All policy makers have the power to integrate this big picture into their decision making. Cooperation across sectors and regions is needed fully realise the benefits of climate compatible policies.
If we look at the bigger picture, protecting the climate and creating prosperity is within our grasp. Let us seize our opportunity to shift the economy onto a climate-compatible path. Let us invest wisely. Let us realize the benefits of climate action.

Data sources:
Global Commission on the Economy and Climate (2014). Better Growth, Better Climate. The New Climate Economy Report. Washington, DC.
Global Commission on the Economy and Climate (2015). Seizing the Global Opportunity. Partnerships for Better Growth and a Better Climate. The 2015 New Climate Economy Report. Washington, DC.
International Energy Agency (2015). World Energy Outlook 2015. Executive Summary. Paris: OECD/IEA.
WHA (2015). Health and the Environment: Addressing the Health Impact of Air Pollution. Sixty-Eighth World Health Assembly. 26 May 2015.

This video was produced by the Climate Diplomacy team.
The Climate Diplomacy initiative is a collaborative effort of the German Federal Foreign Office in partnership with adelphi. http://www.climate-diplomacy.org

Subscribe to the newsletter here:
http://bit.ly/subscribeECC

Follow adelphi on Facebook: https://www.facebook.com/adelphi.de

Follow Climate Diplomacy on Twitter: https://twitter.com/ClimateDiplo
climatecobenefitsclimate action

Carving Knife MAINTENANCE | Step by Step with Basic Tools

Carving Knife MAINTENANCE | Step by Step with Basic Tools

Learning Arabic For The Non-Arabs Is Obligatory

Learning Arabic For The Non-Arabs Is Obligatory

Just A day At The Range

Just A day At The Range

One day the stars will also be all dead, and the dark is all that's will remain for you...

One day the stars will also be all dead, and the dark is all that's will remain for you...

Limit Fungsi Aljabar Bagian 1 - Quipper Video Matematika Kelas 11 - Kurikulum 2013

Limit Fungsi Aljabar Bagian 1 - Quipper Video Matematika Kelas 11 - Kurikulum 2013

Robber pulls out machete; Clerk pulls out sword

Robber pulls out machete; Clerk pulls out sword

DRAWING YOUR OC THE SAME EVERY TIME [Making Model Sheets for Animation and Comics]

DRAWING YOUR OC THE SAME EVERY TIME [Making Model Sheets for Animation and Comics]

Pink Floyd - One of These Days [HD]

Pink Floyd - One of These Days [HD]

A Number Hunt for Eight? Tricking Excite Dog in Smart Wheel City

A Number Hunt for Eight? Tricking Excite Dog in Smart Wheel City

This Whole Guild Is Broken, And It's Wonderful | BOFURI

This Whole Guild Is Broken, And It's Wonderful | BOFURI

How ventilators work? Mechanical Ventilation Explained

How ventilators work? Mechanical Ventilation Explained

HOW TO DOWNLOAD FREE MUSIC USING DOCUMENTS (by readdle) UPDATED

HOW TO DOWNLOAD FREE MUSIC USING DOCUMENTS (by readdle) UPDATED

Foolish G almost cries after alot of subs were gifted for his building on the dream smp

Foolish G almost cries after alot of subs were gifted for his building on the dream smp

"Factors Affecting the Handwriting of a Person"

"Factors Affecting the Handwriting of a Person"

Dennis Lloyd - Anxious (Alternative Version)

Dennis Lloyd - Anxious (Alternative Version)

The Mandala by Second Hour Watches - An Excellent Follow Up Offering From Second Hour!

The Mandala by Second Hour Watches - An Excellent Follow Up Offering From Second Hour!

Gov. DeSantis signs bill that would require parental consent for abortion

Gov. DeSantis signs bill that would require parental consent for abortion

Domain, Codomain, Objects and Images of Relations | Functions | Add Maths

Domain, Codomain, Objects and Images of Relations | Functions | Add Maths

น็อคโมโหเมื่อกรสารภาพความจริง! EP8 l Together With Me The Next Chapter

น็อคโมโหเมื่อกรสารภาพความจริง! EP8 l Together With Me The Next Chapter

Rachel Platten - Better Place (Lyric)

Rachel Platten - Better Place (Lyric)

Noor Stars' Ramadan Majlis - Layali Benefit Ep1 🌙 مجلس نور ستارز - ليالي بنفت رمضان

Noor Stars' Ramadan Majlis - Layali Benefit Ep1 🌙 مجلس نور ستارز - ليالي بنفت رمضان

Carrom tricks: how to break in many different ways

Carrom tricks: how to break in many different ways

Making an Amazing Wood Burning Stove

Making an Amazing Wood Burning Stove

Convey - City of Skin and Bone (Official Video - Feat. Merrick Hanna)

Convey - City of Skin and Bone (Official Video - Feat. Merrick Hanna)

Many wants

Many wants

Facial Plastic Surgery Before and After : 15 Years Younger

Facial Plastic Surgery Before and After : 15 Years Younger

Peter Gabriel - Growing Up

Peter Gabriel - Growing Up

Oldschool Skunk

Oldschool Skunk

Picturesque "Necessary" (Official Music Video)

Picturesque "Necessary" (Official Music Video)

Permutation formula | Probability and combinatorics | Probability and Statistics | Khan Academy

Permutation formula | Probability and combinatorics | Probability and Statistics | Khan Academy

Vlad and Nikita play with Dolls on Outdoor playground

Vlad and Nikita play with Dolls on Outdoor playground

The Purpose of Life

The Purpose of Life

Word - Daunt

Word - Daunt

Install Swift Aftermarket Headlamps And Tail Lamps.

Install Swift Aftermarket Headlamps And Tail Lamps.

Meme 'Okay"

Meme 'Okay"

Wearing SNAP-ON VENEERS for an entire day *FRIENDS REACT*

Wearing SNAP-ON VENEERS for an entire day *FRIENDS REACT*

The Channel Islands & the Other Islands of the English Channel – Pt  1 Alderney Island

The Channel Islands & the Other Islands of the English Channel – Pt 1 Alderney Island

GCN Presenter World Champs | Who's The Fastest? We Let A Zwift Race Decide!

GCN Presenter World Champs | Who's The Fastest? We Let A Zwift Race Decide!

Straight Away Smoothing Blowout Cream

Straight Away Smoothing Blowout Cream

Preferring what is Real

Preferring what is Real

Taxpayers must pay no more than the correct amount of tax

Taxpayers must pay no more than the correct amount of tax

Who will take care of me when I grow old ?

Who will take care of me when I grow old ?

Businessman Overwhelmed By FIVE Separate Offers In The Den | Dragons' Den

Businessman Overwhelmed By FIVE Separate Offers In The Den | Dragons' Den

A jug contains 2L of milk. Calculate the volume of milk in m3. #numerical #chemistry

A jug contains 2L of milk. Calculate the volume of milk in m3. #numerical #chemistry

Every All Stars Werkroom Entrance (Compilation) | RuPaul's Drag Race

Every All Stars Werkroom Entrance (Compilation) | RuPaul's Drag Race

Complications by Sebastian Forslund - [Acoustic Group Music]

Complications by Sebastian Forslund - [Acoustic Group Music]

UPDATE, NEW WEIGHT LOSS PLAN , CHIT CHAT

UPDATE, NEW WEIGHT LOSS PLAN , CHIT CHAT

Foreigner - Live in Chicago - 10 Urgent (Live)

Foreigner - Live in Chicago - 10 Urgent (Live)

Skepta - Shutdown

Skepta - Shutdown