Investments in renewable energies and low-carbon infrastructure can help the environment and the economy at the same time, says a comprehensive new report released Tuesday.
The report — Better Growth Better Climate — found that about US $90 trillion will likely be invested in infrastructure in the world’s cities, agriculture and energy systems over the next 15 years, unleashing multiple benefits including jobs, health, business productivity and quality of life.
“The decisions we make now will determine the future of our economy and our climate,” Nicholas Stern, Co-Chair of the Global Commission on the Economy and Climate, said in a media release.
“If we choose low-carbon investment we can generate strong, high-quality growth – not just in the future, but now. But if we continue down the high-carbon route, climate change will bring severe risks to long-term prosperity,” he said.
Felipe Calderón, Chair of the Global Commission on the Economy and Climate, said the report refutes the idea that humankind must choose between fighting climate change or growing the world’s economy.
“That is a false dilemma,” Calderón said. “Today’s report details compelling evidence on how technological change is driving new opportunities to improve growth, create jobs, boost company profits and spur economic development. The report sends a clear message to government and private sector leaders: we can improve the economy and tackle climate change at the same time.”