'Net zero' isn't madness: the staggering economic costs of climate change

"The overarching message of The Economics of Climate Change: The Stern Review was that failing to invest in mitigating climate change would exact an alarmingly high price, estimated between 5% and 20% of global GDP per year."

"By contrast, the costs associated with reducing planet-warming emissions were projected to be just 1% of GDP annually, highlighting the economic rationale for immediate climate action."

"The Stern Review shows how strong research that integrates the natural and social sciences can make a tangible difference to policy when allied with political will."

The Stern Review, published 20 years ago, revealed the significant economic costs of climate inaction, estimating damages could reach 5% to 20% of global GDP annually. In contrast, reducing emissions would cost only 1% of GDP. The review united various sectors around the urgency of climate action. Recently, Nicholas Stern reflected on its impact amid a retreat from climate promises by leaders of high-income countries. The review underscores the importance of integrating natural and social sciences in policy-making to address climate change effectively.

Read at Nature