Both the direct and indirect benefits of climate-compatible growth
Assess and recognize both the direct and indirect benefits of climate-compatible growth
There is no globally accepted or widely applied methodology to quantify in monetary terms the benefits
of climate-compatible growth. For most economic activities, only the direct costs and benefits are
considered in making policy and investment decisions. Medium and long-term indirect costs and benefits
need to be properly identified and quantified in order to correctly value the benefits of policies and the
costs of inaction.
- Reduced greenhouse gas emissions: Climate-compatible growth reduces greenhouse gas emissions, which helps to mitigate climate change. This has a number of benefits, including:
- Reduced risk of extreme weather events, such as floods, droughts, and heat waves.
- Improved air quality, which can lead to better health outcomes.
- Increased resilience to climate change, which can help countries adapt to the impacts of climate change that are already happening.