Cost Of Climate Change: Why Saving Our Planet Now Is Cheaper

The cost of action is high, but in the long run it will be so much cheaper than doing nothing andAt a time when the consequences of climate change are increasingly impossible to ignore, an important question is often asked in the media: What is the cost of averting the climate crisis?

This figure was later revised to 2% to account for the more severe damages anticipated from climate change. Despite the clear consensus across numerous studies on the affordability of such investments—equating to approximately $2 trillion or a quarter of global profits—the question remains: why is there hesitation in taking decisive action?

This adaptation, however, comes at a significant financial cost, particularly in terms of capital and operational expenses, underscoring a divide where the less affluent struggle to afford such luxuries. Some damages we have a hard time to value in financial terms. For example, the loss of islands due to sea level rise and more extreme weather. The announced immersions on low height islands in the Pacific and other places that might become non-livable. By 2064 all people of Tuvalu could be resettled in Australia. Such an event cannot be financially quantified and poses a true ethical question.

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