"What is the cost of climate action?" wail the neocons, oblivious in failing to recognise an economy does not exist in a vacuum. Well, those hippies at Melbourne Uni have crunched the numbers and projected that meeting our Paris target would cost $122 billion, or just over four year's worth of current subsidies for fossil fuel industries. Failing to act, however, will result in losses of $2.7 trillion, or a quarter of our current wealth. Inaction will cost us more than 20 times as much as action.
And that is not even accounting for the loss of coal income regardless of what we do, and the massive chance we have to set ourselves up as the renewables superpower of the world.
What are the full economic costs to Australia from climate change?
What are the full economic costs to Australia from climate change?sustainable.unimelb.edu.au
On some obscure "realclimate" blog Lee will find a weird hockey stick graph that disproves that