The Cost of Climate Change
Time is no longer running out to act on climate change; it's up

August 29, 2022
"Time is no longer running out to act on climate change; it's up," reports Deloitte. Unchecked climate change could cost the global economy USD 178 trillion over the next 50 years. "The human costs would be far greater: a lack of food and water, a loss of jobs, worsening health and well-being, reduced standard of living."

Time is no longer running out to act on climate change; it's up. Download the Deloitte report.

Time to act -- accelerating to zero

With global emissions continuing to rise over the last two decades, we have squandered the chance to decarbonize at our leisure. The global economy needs to execute a rapid, coordinated, sequenced energy and industrial transition that will play out in distinct phases.

* Bold climate plays: Coordination and collaboration set the stage for decarbonization by formulating policies and frameworks for a low-carbon future.
* Accelerating to net zero: Deep investment across systems instigates structural economic adjustments. The decline of emissions-intensive industries would create growing pains for some economies.
* Turning point: Investment in structural economic adjustment is almost complete. Economies would realize the dividend of the transformation and experience net positive growth.
* Low-emission future: Interconnected, low-carbon systems underpin a clean economy that would grow at an increasingly faster rate than its carbon-intensive alternative.

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