Much has been said about the costs of combating global warming but a slew of independent research indicates that the benefits of climate action far outweigh the costs. This was also the conclusion of Citibank study published in August.
Two research institutes at the London School of Economics found that there are significant economic gains from limiting emissions. The LSE study published in July says that improved air quality, energy efficiency and energy security combine with falling renewable energy prices to make climate action the more economically compelling option.
The employment and health benefits alone outweigh the costs of climate mitigation even if we do not factor the liabilities associated with the damaging impacts of climate change. In the simplest terms climate action has massive economic benefits while inaction will augur massive costs.
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