Unlocking the Inclusive Growth Story of the 21st Century: Accelerating Climate Action in Urgent Times (New Climate Economy)
The 2018 Report of the Global Commission on the Economy and Climate finds that bold climate action could deliver at least US$26 trillion in economic benefits through to 2030, compared with business-as-usual. Subsidy reform and carbon pricing could generate an estimated US$2.8 trillion in government revenues per year in 2030 which can be used to invest in public priorities. Urgent actions called for in the report include major economies putting a carbon price of at least US$40-80 by 2020, phasing-out fossil fuel subsidies and harmful agricultural subsidies and tax-breaks by 2025, with some of the revenues saved used to provide better-targeted support to tackle energy poverty and ensure more sustainable food and land use systems. To read the full report, see the NCE webpage.