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• Improved energy security: Climate-compatible growth strategies can also help to improve energy security by diversifying energy sources and reducing reliance on fossil fuels. This can make countries less vulnerable to price shocks and supply disruptions.
• Created jobs: The transition to a low-carbon economy is expected to create millions of new jobs in the clean energy sector. This can help to boost economic growth and create opportunities for workers in all sectors of the economy.
• Increased innovation: The development of new technologies to reduce greenhouse gas emissions and improve energy efficiency can lead to increased innovation and economic growth.

Indirect benefits

• Improved health: Climate-compatible growth can lead to improved health outcomes by reducing air pollution and the risk of extreme weather events. This can save lives and reduce healthcare costs.
• Increased productivity: Improved air quality and reduced climate risks can lead to increased productivity in the workplace. This can boost economic growth and create jobs.
• Enhanced ecosystem services: Climate-compatible growth can help to protect and restore ecosystems, which provide a number of benefits, such as clean air and water, food security, and flood mitigation.
• Reduced poverty: The economic benefits of climate-compatible growth can help to reduce poverty and inequality. This is especially important in developing countries, which are most vulnerable to the impacts of climate change.

It is important to note that the benefits of climate-compatible growth are not always immediate or easy to quantify. However, the long-term benefits are significant and can outweigh the costs of transitioning to a low-carbon economy.

There is no single methodology that can be used to quantify the benefits of climate-compatible growth. However, a number of different approaches have been developed, including:

• Cost-benefit analysis: This approach compares the costs and benefits of different climate policies.
• Integrated assessment models: These models are used to simulate the economic and environmental impacts of climate change.
• Social cost of carbon: This is the estimated cost of the damages caused by a unit of greenhouse gas emissions.

The best approach to quantifying the benefits of climate-compatible growth will vary depending on the specific context. However, it is important to use a rigorous methodology that takes into account all of the relevant costs and benefits.

The lack of a globally accepted methodology to quantify the benefits of climate-compatible growth is a challenge. However, it is important to continue to develop and improve these methodologies so that we can make informed decisions about how to address climate change.