'Inaction is a far costlier choice': How 3C of climate warming could cost global economy $178tr

Michael Holder
clock • 6 min read
The 2018 Woolsey wildfire in California burned 96,949 acres of land, destroyed 1,643 structures, killed three people, and prompted the evacuation of more than 295,000 people | Credit: iStock
Image:

The 2018 Woolsey wildfire in California burned 96,949 acres of land, destroyed 1,643 structures, killed three people, and prompted the evacuation of more than 295,000 people | Credit: iStock

While unchecked global warming could knock 7.6 per cent off GDP, net zero could boost global GDP by 3.8 per cent, according to Deloitte

Climate change could cost the global economy $178tr over the next 50 years if left unchecked, amounting to a 7.6 per cent cut in GDP in the year 2070 alone, according to a sobering new assessment from...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Climate change

Extreme heat caused more than 1,500 deaths in England in summer 2025

Extreme heat caused more than 1,500 deaths in England in summer 2025

Official data suggests there were half as many heat-associated deaths in England as expected last summer, due to improving awareness and resilience measures

Michael Holder
clock 07 April 2026 • 4 min read
Extreme weather pushes Easter lamb prices up by a fifth

Extreme weather pushes Easter lamb prices up by a fifth

Droughts, extreme heat, and heavy rainfall have all contributed to higher prices for lamb in time for Easter

clock 03 April 2026 • 3 min read
Angera Declaration: 150 leading scientists call for bolder action to tackle methane emissions

Angera Declaration: 150 leading scientists call for bolder action to tackle methane emissions

Statement to mark 250th anniversary of the discovery of methane calls on policymakers and businesses to rapidly accelerate efforts to tackle powerful greenhouse gas

James Murray
clock 30 March 2026 • 3 min read