why we need to act now
The dangerous consequences of climate change are clearer than ever before. According to the latest IPCC report, the climate consequences of a 2° world are far greater than that of 1.5° and we are not on track for either. A 1.5°C world could reduce the number of people both exposed to climate-related risks and susceptible to poverty by up to several hundred million by 2050 compared with 2°C. Without urgent action, climate impacts could push an additional 100 million people into poverty by 2030. Climate impacts are already being felt in the form of extreme natural disasters and weather events that are negatively affecting crops and livestock. Moreover, climate impacts on human health have been steadily rising, with direct costs to health projected to be as high as US$ 4 billion per year by 2030. Significant financing is required over the next two decades around $90 trillion by 2030 is required for an orderly transition to a low carbon resilient global economy.
Yet, analyses indicate that countries’ implemented policies and Nationally Determined Contribution (NDC) pledges fall far short of what is needed to keep the global temperature rise well below 2°C and pursue efforts to limit it to 1.5°C by 2100. Rapid, inclusive and climate informed development can prevent most of the impacts of climate change on extreme poverty by 2030.
Climate action offers a major opportunity to ensure sustainable global development and boost economic growth. It is already delivering tangible results in terms of new jobs, economic savings, competitiveness and market opportunities, and improved well being for people worldwide with even greater investment, innovation, and growth potential ahead.
Policies, such as carbon pricing, can help further create incentives for transformational change.
Leaders call for a price on carbon
Leaders from government and business have been speaking out in favor of carbon pricing as an efficient way to reduce greenhouse gas emissions. In 2014, more than 70 national governments and over 1,000 businesses declared their support for carbon pricing at the UN Climate Summit. Listen and read as public and private sector leaders describe the value they see in their own carbon pricing systems and those they work with.