Economic imperative—our turning point

The cost of doing nothing is economically devastating 

US$96 trillion lost from Asia Pacific’s economy by 2070.

This represents a loss of US$16 trillion in 2070 alone, equivalent to China’s entire economy today.

_{Source: Deloitte Economics Institute, World Bank national accounts data and OECD National Accounts data file.} 

We have a narrow window of time to change the future. Decisions need to be made in the next decade to combat the worst impact and accelerate economic growth.

Acting on climate change is the new economic engine 

US$47 trillion added to Asia Pacific’s economy by 2070.

A gain of US$11 trillion in 2070 alone—equivalent to Japan, India, South Korea and Australia economies being added to the region.

_{Source: World Bank. (2021). GDP % annual growth. Selected data from World Bank national accounts data and OECD National Accounts data files 1960–2020.}

75% of Asia Pacific’s GDP is exposed to climate disruption with 50% of the world’s labour force impacted.

_{Source: Deloitte Economics Institute.} 

Asia Pacific has most to gain from action

Through concerted and co-ordinated action over the next decade, we can transform the underlying production systems of our economy, through technology and finance and export decarbonisation globally. Manufacturing will grow three times faster than the rest of the world and create a new engine for prosperity. 

_{Source: Deloitte Economics Institute.} 

1. 2025—AP Bold climate plays: Decisions begin to impact decarbonisation 
2. 2035—Co-ordinated change: Big economic shifts occur in policy, energy and consumers. 
3. 2050—Turning point: Decarbonisation of high-emission industries almost complete. Costs of sustainable technologies start decreasing and wider net economic gains.
4. 2050 onwards—A low-emission future: Radical transformation of economic structure. Economies of Asia Pacific near net zero emissions and operating in a world that keeps global warming to around 1.5°C.