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Action On Climate Change Can Add $26 Trillion To World Economy By 2030


The economic benefits offered by a shift to a low-carbon economy have been "grossly" underestimated, according to the Global Commission on the Economy and Climate, a think tank grouping former heads of government and top economic and business leaders.

"Bold action could yield a direct economic gain of $26 trillion through to 2030 compared with business-as-usual. And this is likely to be a conservative estimate," the commission's annual report found.

Dynamic action on climate could also generate "over 65 million new low-carbon jobs" by 2030 and avoid over 7,00,000 premature deaths due to air pollution, it said.

But policymakers were "not taking sufficiently bold action to escape the legacy economic systems," the study found, warning that the window for change was narrow.

"We are at a unique 'use it or lose it' moment. Policymakers should take their foot off the brakes and send a clear signal that the new growth is here," said the commission's co-chair Ngozi Okonjo-Iweala, Nigeria's former finance minister.