Stronger action on climate change would benefit the economy, study finds

Debunking common myths about climate change Debunking common myths about climate change CBSN Live Debunking common myths about climate change Feb 27, 2020 07:07 buttons/button-playertray-rightbuttons/button-playertray-right One of the main arguments against taking action on climate change has always been that it’s too expensive. But new research finds just the opposite: We can’t afford not to. A study published Tuesday in the peer-reviewed scientific journal Nature finds that if nations fail to rein in greenhouse gas emissions sufficiently, as agreed upon in the international Paris Agreement , the global economy stands to lose at least $150 trillion to as much as $792 trillion by the end of the century. A co-author of the study, Biying Yu, from the Beijing Institute of Technology, said the general consensus in the international academic community is that "climate change may lead to a global catastrophe," and thus inaction could result in "substantial socio-economic losses." The goal of the Paris Agreement is to keep global warming below 2 degrees Celsius as compared to pre-industrial levels (the world has already warmed by more than 1 degree). The U.S. signed onto the accord in 2015 along with more than 190 other nations, but the Trump administration later […]

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