Climate: The Cost of Doing Nothing

Financial cost, not just environmental:

Between circa €3 and €6 billion is therefore estimated, but it should be noted that this is not a prediction. These scenarios assume that no further actions are taken to reduce emissions between now and 2030. In reality, this is highly unlikely. While a full assessment of the economics of climate action is beyond the scope of this analysis, measures (pubic transport investment, cycle lanes, non-diesel busses and other low-emissions vehicles, optimising land use for climate smart agriculture, retrofitting homes, offices and public buildings, renewable heating, phasing out peat/coal and investing in PV and wind, etc.) would largely boost the domestic economy. In most cases, what is required is not new exchequer resources, but the recalibration of incentives and re-allocation of existing resources. The purpose here is not to point to looming fiscal catastrophe. Rather it is to underline the need for a more proactive approach to reducing emissions, particularly from agriculture, buildings and transport. With an economy and greenhouse gas emissions that are once again growing fast, this is a particularly important policy consideration.

Source: How much of Ireland’s “fiscal space” will climate inaction consume? – Blogs – IIEA – The Institute of International and European Affairs