Tuesday, March 07, 2023

Climate Change: Too expensive?

Ever since it became clear that we needed to reduce greenhouse gas emissions, climate change deniers have claimed it is "too expensive". This is based on a one-sided analysis which ignores the costs of climate change - costs which Cyclone Gabrielle has just demonstrated are enormous. Now, a new report from Deloitte shows that climate action is massively better for us than inaction:

New Zealand's economy could be $64 billion better off by 2050 if decisive climate action is taken, a new report by consulting firm Deloitte claims.

But failing to act could shrink the economy by $4.4 billion.

Deloitte's Turning Point compares what could happen if the planet warms by 3C by the end of the century, against limiting global warming to as close to 1.5C above pre-industrial levels as possible by 2050.

Which also shows the stupidity of those pushing for a hard pivot to "adaptation" rather than emissions reductions. Because it turns out that perpetual storms, floods and fores - and the perpetual cleanup required - isn't actually very good for the economy, let alone for people's lives. But those pushing adaptation are really just trying to protect the polluting status quo - a status quo which can have no future if we are to survive.