Failure to act on climate will cost trillions, trash global economies

As Australia plays nice at the Pacific Islands Forum – the scene of would-be prime minister Peter Dutton’s 2015 accidentally overheard sea-level rise joke – no fewer than three new reports have this week warned of the massive economic cost of failing to act on climate change.

The first, from the Global Commission on the Economy and Climate, puts forward a “conservative estimate” that bold action to avoid the high risks of a changing climate could deliver $US26 trillion in global economic benefits through to 2030, compared with business-as-usual.

Meanwhile, the economic costs of inaction – to say nothing of the environmental costs – were mounting faster, and were greater than previously recognised.

Read the story from RenewEconomy by Sophie Vorrath - “Failure to act on climate will cost trillions, trash global economies.”