Bill Gates and Ban Ki-moon: Investing in climate solutions could generate $7.1 trillion

As climate change fuels bigger disasters—from Hurricane Dorian leveling parts of the Bahamas to heat waves this summer that prematurely killed nearly 1,500 people in France—the world needs to act now to become more resilient, says a new report from a global commission led by Bill Gates, Ban Ki-moon, and Kristalina Georgieva, who is on leave as CEO of the World Bank. The changes are in the world’s economic self-interest: The report calculates that some of the key investments needed could generate $7.1 trillion in total net benefits. The report, Adapt Now: A Global Call for Leadership on Climate Resilience , says that while there’s a clear case for ambitious adaptation, it isn’t happening quickly enough or at a great enough scale. Societies, including businesses, need to better understand how much is at risk and what solutions exist. New infrastructure needs to be built with climate change in mind; both governments and banks need to invest more. Without changes, the prospects are grim: The number of people who don’t have enough drinking water will balloon from 3.6 billion to more than 5 billion by the middle of the century. Hundreds of millions of people living in coastal cities could […]

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