That said, the OECD itself says the remedy will not cost an arm and a leg:
“It’s not cheap. It is affordable, but also it is considerably less onerous for mankind and for the economy than the alternative of inaction,” OECD Secretary General Angel Gurria told reporters.
The suggested measures would cost just over 1.0 percent of the predicted global gross domestic product in 2030, meaning world wealth would grow on average 0.03 percentage points less per year over the next 22 years, the organisation said.
If nothing is done however, global greenhouse gas emissions could rise by over 50 percent by 2050, while “one billion more people will be living in areas of severe water stress by 2030 than today, and premature deaths caused by ground-level ozone worldwide would quadruple by 2030,” the OECD report said.
So, it’s past time to act.
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