Countries Under-Estimating Climate-Smart Growth Benefits: Global Commission

New York: A report released by the Global Commission on the Economy and Climate on Wednesday found that the countries are significantly under-estimating the benefits of a cleaner, climate-smart growth. Bold climate action could deliver at least $26 trillion in economic benefits through to 2030, compared with business-as-usual.

The report finds that over the last decade there has been tremendous technological and market progress driving the shift to a new climate economy. There are real benefits to be seen in terms of new jobs, economic savings, competitiveness and market opportunities, and improved well-being for people worldwide. Momentum is building behind this shift by a wide range of cities, governments, businesses, investors and others around the world, but it is not yet fast enough. “We are at a unique ‘use it or lose it’ moment,” Ngozi Okonjo-Iweala, former Finance Minister of Nigeria and Co-Chair of the Global Commission, said in a statement.

“Policy makers should take their feet off the brakes, send a clear signal that the new growth story is here and that it comes with exciting economic and market opportunities. $26 trillion and a more sustainable planet are on offer, if we act decisively now.” The report arrives just a week ahead of the Global Climate Action Summit (GCAS) in San Francisco. (IANS)