deloitte climate change inaction [shutterstock: 1336704332, Pictrider]
[shutterstock: 1336704332, Pictrider]
Management Press Release

Inaction On Climate Change Could Cost The World’s Economy

A new report from the Deloitte Center for Sustainable Progress (DCSP) indicates that, if left unchecked, climate change could cost the global economy US$178 trillion over the next 50 years, or a 7.6 percent cut to global gross domestic product (GDP) in the year 2070 alone.

If global warming reaches around 3°C toward the century’s end, the toll on human lives could be significant, disproportionately impacting the most vulnerable and leading to loss of productivity and employment, food and water scarcity, worsening health and well-being, and ushering in an overall lower standard of living globally.

Deloitte’s Global Turning Point Report is based on research conducted by the Deloitte Economics Institute. The report analyzed 15 geographies in Asia Pacific, Europe, and the Americas, and found that if global leaders unite in a systemic net-zero transition, the global economy could see new five-decade gains of US$43 trillion, a boost to global GDP of 3.8 percent in 2070.

Transforming the economy for a low-carbon future will require extensive coordination and global collaboration throughout industries and geographies. Governments will need to collaborate closely with the financial services and technology sectors – leading the charge on sustainable progress through global policymaking, greater investment in clean energy systems, and a new mix of green technologies across industries. According to the Deloitte Economic Institute’s research, collectively pivoting from an economy reliant on fossil fuels to an economy primarily powered by renewable energy would spur new sources of growth and job creation. Global cooperation and regulation are vital to setting the stage for a successful transformation.

About the author

E-3 Magazine

Articles published through E-3 Magazine International. This includes press releases by our partners as well as articles and reports from the E-3 team of journalists.

Add Comment

Click here to post a comment

Social Media

Sign up for e3zine´s biweekly newsbites

Please do not use administrative mail adresses like "noreply@..", "admin@.." or similar as these may get blocked for security reasons.

We use rapidmail for dispatching our newsletter. By signing up, you agree that the data you have entered will be transmitted to rapidmail. Please take note of their terms and conditions and privacy policy.termsandconditions.


Our Authors