The World Bank has just published a study of how fighting climate change will GROW, not shrink the world economy.
Tackling climate change would grow global economy, World Bank says
Findings put to rest claims that the world could not afford to act on climate change
Fighting climate change would help grow the world economy, according to the World Bank, adding up to $2.6tn (£1.5tn) a year to global GDP in the coming decades.
The findings, made available in a report on Tuesday, offer a sharp contrast with claims by the Australian government that fighting climate change would “clobber” the economy.
Tuesday's report found a number of key policies – none of which included putting an economy-wide price on carbon – would lead to global GDP gains of between $1.8tn and $2.6tn a year by 2030, in terms of new jobs, increased crop productivity and public health benefits.