Co-author: Emma Berry – Director, Climate & Sustainability, Benji Prawer – Graduate, Climate & Sustainability
The Intergovernmental Panel on Climate Changes’ (IPCC) latest report delivers the message we already know in our gut is true. Time is no longer running out to fix our global emissions. It’s up. Drastic cuts in emissions are needed to minimise climate change.
We can avert the worst impacts of climate change by rapidly reducing emissions and building resilience. Taking the right actions now and over the next decade will enable Australia and the world to get much closer to net zero emissions and keep global warming averages to around 1.5 degrees Celsius. There is upside too if coordinated and early action is taken towards Australia’s decarbonisation, the economy stands to gain around $890 billion over the next 50 years. This is in comparison to a future of no further or significant climate action, which could result in $3.4 trillion in economic losses, over the same period. We can add 250,000 jobs to our economy by 2070 if we take the right action and chose a new growth pathway. Failing to address climate change will result in $3.4 trillion lost and 880,000 jobs lost from our economy over the same period. The choice is clear, and the Australian workforce will be critical in making this transition happen.