'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

Michael Holder
Author spotlight

Michael Holder

Environmental journalist and editor

View profile
More from Michael Holder

'Economic and environmental success story': EV sales surge to new high in August

The UK's onshore wind pipeline is growing - but can the sector deliver on its 2030 goals?

More on Climate change

'Without action, these could be the good years': A quarter of UK food imports come from regions most exposed to El Niño impacts
Climate change

'Without action, these could be the good years': A quarter of UK food imports come from regions most exposed to El Niño impacts

Imports of commodities such as rice, coffee, and cocoa mean up to £17bn is at risk from 'Super El Niño' climate impacts

Stuart Stone
Stuart Stone
clock 03 September 2026 • 6 min read
COP17: How UN desertification talks delivered 'mixed results' for combatting drought and land degradation
Climate change

COP17: How UN desertification talks delivered 'mixed results' for combatting drought and land degradation

Mongolia Summit delivers billions of dollars in new financing, fresh private sector partnerships, and a range of new government commitments - but critics warn progress fell far short of what is needed to meet land restoration goals

Michael Holder
Michael Holder
clock 02 September 2026 • 8 min read
'Delay is not a neutral act, it is a decision': Green figures react to UN's 1.5C 'overshoot' warning
Climate change

'Delay is not a neutral act, it is a decision': Green figures react to UN's 1.5C 'overshoot' warning

Politicians, business leaders, economists, and climate campaigners offer their take on UNEP's report warning the world is now all but certain to 'overshoot' the 1.5C global warming threshold

BusinessGreen staff
BusinessGreen staff
clock 02 September 2026 • 15 min read