July 13, 2015 – Countries will benefit economically from almost all of the actions needed to limit global warming to no more than 2°C above pre-industrial levels, according to a new report.

Global-net – The paper published by the Grantham Research Institute on Climate Change and the Environment and ESRC Centre for Climate Change Economics and Policy at London School of Economics and Political Science suggests that individual countries have large incentives to make ambitious reductions in greenhouse gas emissions and to agree to strong collective action at the United Nations climate change conference in Paris in December.

The author of the paper, Fergus Green, says the vast majority of emissions cuts needed to decarbonize the global economy this century can lead to domestic economic benefits that outweigh the costs for individual countries, even before the avoided risks of dangerous climate change are taken into account.

Self Interest Pays

“All things considered, I conclude that there is a very strong case that most of the mitigation action needed to stay within the internationally-agreed 2°C limit is likely to be nationally net-beneficial,” he writes.

Domestic economic gains from action to tackle climate change include improved air quality, increased energy efficiency, and clean technology innovation ‘spillovers’.
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