Today, business and finance groups have come together to endorse Australia’s continued bipartisan commitment to the Paris Agreement goals and call for all levels of government to continue to support Australia’s transition to a clean, competitive, resilient and prosperous net zero economy.
Acting to limit climate change and its impacts makes good financial sense. According to the world’s central banks’ mid-range estimate, global GDP would be 7 per cent higher in 2050 if emissions fall steadily to net zero, rather than if today’s climate policies get no stronger. In fact, the difference could be even higher: actuaries suggest the range of credible estimates includes a global GDP benefit of 25 per cent by mid-century, and 50 per cent by 2090. Globally, the past ten years were the ten hottest on record. The physical effects of climate change are already evident here and around the world, underscoring the urgency of action.
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Today, business and finance groups have come together to endorse Australia’s continued bipartisan commitment to the Paris Agreement goals and call for all levels of government to continue to support Australia’s transition to a clean, competitive, resilient and prosperous net zero economy.
Acting to limit climate change and its impacts makes good financial sense. According to the world’s central banks’ mid-range estimate, global GDP would be 7 per cent higher in 2050 if emissions fall steadily to net zero, rather than if today’s climate policies get no stronger. In fact, the difference could be even higher: actuaries suggest the range of credible estimates includes a global GDP benefit of 25 per cent by mid-century, and 50 per cent by 2090. Globally, the past ten years were the ten hottest on record. The physical effects of climate change are already evident here and around the world, underscoring the urgency of action.
