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

Original article by Adam Morton
The Guardian – Page: Online : 2-Nov-20

Deloitte Access Economics claims the Australian economy would receive a ‘hit’ comparable to COVID-19 every year by 2050 if the ‘climate crisis’ is not addressed. The consultancy firm contends the Australian economy will be six per cent smaller and there will be 880,000 less jobs if the crisis remains unchecked over the next 50 years, as well as there being $3.4 trillion in lost economic opportunities. Chris Richardson from Deloitte Access Economics says the experience of COVID-19 has shown the cost of ignoring "catastrophic risks".


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