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Monday, June 30, 2014

World Bank: Tackling climate disruption will grow the economy

AsUS business leaders cite the domestic economic consequences of global climate disruption, a new report from the World Bank has identified a set of policies in five large countries that would "secure growth, increase jobs and competitiveness, save lives, and slow the rate" of climate change.

Climate-smart development: adding up the benefits of actions that help build prosperity, end poverty and combat climate change focuses on Brazil, China, India, Mexico, and the United States – plus the European Union. It examines the benefits of all six implementing three sets of policies on clean transportation, energy efficiency in industry, and energy efficiency in buildings.

The bank said that these policies would deliver nearly a third of the reductions in greenhouse gas emissions needed to keep warming below the 2°C (3.6°F) threshold for dangerous climate change - and add up to $2.6 trillion a year to global GDP by 2030 and avoid 94,000 deaths a year due to air pollution.

The costs of climate protection are cheap, and as the World Bank study shows, key policies would actually grow the economyThe real obstacle to confronting climate disruption, as Paul Krugman writes, is economic ideology reinforced by hostility to science.

Are we capable of overcoming that?

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