“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 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.