Lack of climate action over 50 years will cost the economy $3.4tn and 880,000 jobs – report

If policies promoting net zero emissions by 2050 are adopted 250,000 jobs would be created and $680bn added to the economyAustralia’s economy will be 6% smaller, there will be 880,000 fewer jobs and $3.4tn in economic opportunities will be lost if the climate crisis goes unchecked for next 50 years, new analysis shows.On the other hand, the report by consultancy Deloitte Access Economics said policies consistent with a target of net zero emissions by 2050 and keeping global warming to 1.5C could expand the economy by 2.6%, or $680bn to the economy, and create 250,000 jobs. Related: Net zero: what if Australia misses the moment on climate action? Related: A Joe Biden victory could push Scott Morrison – and the world – on climate change Continue reading...