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Climate action under the Paris Agreement is an economic gain, not drain

Climate Finance

As the Trump administration effectively pulls back from the global climate accord, a new report from the International Renewable Energy Agency (IRENA) shows how much the world stands to gain by staying the course.

Meeting the Paris goals represents a $19 trillion economic boost through 2050, or an 0.8 percent bump in global GDP, the report says.

That’s just the financial value. Transitioning to cleaner, renewable fuels will create six million new jobs, outpacing jobs lost in the fossil fuels sector.

“Improvements in human welfare, including economic, social and environmental aspects, will generate benefits far beyond those captured by GDP.”

Bloomberg New Energy Finance estimated last year that $12.1 trillion in investment in cleaner energy is needed over the next 25 years.

This post originally appeared in ImpactAlpha’s daily newsletter. Get The Brief.

Photo credit: Walmart, Flickr

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