Deloitte Access Economics climate change report warns against inaction
Deloitte Access Economics has constructed a view of the Australian economy where inaction, or mis-action, in preventing climate change causes damage to the Australian economy. Climate change is no longer a scenario, but instead becomes the baseline for the economy.
At the core of the issue on climate change is the assumption that unconstrained emissions (and therefore warming) are compatible with economies which can grow forever – but, based on the science, this is not possible.
In its report A new choice: Australia’s climate for growth, Deloitte outlines the risks of climate change for Australia. The report states inaction will have the effect of curtailing Australia’s economic growth by $3.4 trillion with nearly a million less jobs available by 2070.
Alternatively if governments set a target for net-zero emissions by 2050, the report projects that $680 billion and more than 250,000 jobs could be created during the same timeframe.