'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

Octopus Energy to launch home cooling 'add-on' for heat pumps

Defra confirms goal for organic farming to cover 10 per cent of land in England by 2036

More on Climate change

Yorkshire officially enters drought status
Climate change

Yorkshire officially enters drought status

Summer may have come to an end and rain may be forecast, but the Environment Agency has warned drought conditions are continuing to impact much of the country

James Murray
James Murray
clock 12 October 2026 • 2 min read
The world does not lack climate solutions - but it needs the courage to listen
Climate change

The world does not lack climate solutions - but it needs the courage to listen

Indigenous Peoples protect at least 80 per cent of the world's biodiversity yet receive less than one per cent of climate finance - that must change, writes Mbororo environmental activist Hindou Oumarou Ibrahim

Hindou Oumarou Ibrahim, Indigenous Peoples of Africa Coordinating Committee
clock 09 October 2026 • 5 min read
People's Emergency Briefing: Viewers believe UK public is not being fully informed about climate crisis
Climate change

People's Emergency Briefing: Viewers believe UK public is not being fully informed about climate crisis

As much as 90 per cent of those who have watched film believe government should respond to climate and nature crises with same urgency as Covid-19 or World War Two, study claims

Stuart Stone
Stuart Stone
clock 08 October 2026 • 4 min read