Climate change mitigation 'far cheaper than inaction'
Tackling the global climate crisis could reap significant economic benefits for both developed and developing countries, according to a new report.
The impacts of climate change and a carbon-intensive economy cost the world around US$1.2 trillion a year — 1.6 per cent of the total global GDP (gross domestic product), states 'Climate Vulnerability Monitor: A Guide to the Cold Calculus of A Hot Planet'.
For this reason, "adapting to climate change is very likely a cost-effective investment in almost all cases and should be central to any climate change policy", the report says.
The new publication was launched during the 67th session of the UN General Assembly, in New York, United States, last month (26 September). It was produced by Development Assistance Research Associates (DARA), an independent aid analysis organisation, and the Climate Vulnerable Forum, a global partnership of nations that are disproportionately affected by global warming.
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