Third of global GDP could be lost this century if climate crisis runs unchecked, says reportTaking strong action to tackle the climate crisis will increase countries’ economic growth, rather than damage their finances as critics of net zero policies have claimed, research from the world’s economic watchdog has found.Setting ambitious targets on cutting greenhouse gas emissions, and setting out the policies to achieve them, would result in a net gain to global GDP by the end of the next decade, according to the Organisation for Economic Co-operation and Development (OECD), in a joint report with the UN Development Programme. Continue reading...
OECD research finds that tackling the climate crisis will increase economic growth, resulting in a net gain to global GDP by the end of the next decade, with advanced economies seeing a 60% increase in GDP per capita growth by 2050 and lower-income countries experiencing a 124% rise from 2025 levels. Conversely, unchecked climate change could lead to a loss of a third of global GDP this century, with Europe facing a permanent recession due to extreme weather. Renewable energy growth is economically viable and rapidly deployable.
