Big Economic Benefits of Fighting CC
Aggressive Action Against Climate Change Benefits Earth & Economy
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| Source: Climate Change Stock Image |
A study published in the scientific journal Nature finds that if nations don't adhere to the 2015 Paris Agreement to keep global warming below 2 degrees Celsius and significantly cut CO2 emissions, the global economy will loose at least $150 Trillion to as much as $792 Trillion by the end of the century. Co-author of the study Biying Yu of the Beijing Institute of Technology says the general consensus in the global academic community is that climate change may lead to a global catastrophe with huge socio-economic loses. Unfortunately, most of the 190 nations that signed the Paris Accords are falling far short of their commitments.
Calculating A Green Future
Yu and her team found that if nations optimally cut their CO2 emissions, net global economic benefits would range from $127 trillion and $616 Trillion by 2100. The dollar figures are derived from climate change damage avoided minus the costs to cut global warming. The large range is due to simulating strategies, technology developments and climate damage.
Global Cooperation Needed
This study is so specific that it provides for each nation exact emissions reduction targets, economic breakeven points and top costs of various strategic approaches to fighting emissions and climate change. It clearly demonstrates the benefits of taking aggressive action against Climate Change both for the Earth and the global economy. The study concludes combating Climate Change is not a matter of one nation's actions. It takes collective action and cooperation from countries around the world.
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