By Daniela Hirschfeld
Tackling the global climate crisis could reap significant economic benefits for both developed and developing countries, according to a new report.
Tackling 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.
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