Climate change is an economic problem that needs fixing. Here's why

The authors contend that limiting global warming to 1.5 degrees Celsius is an economic necessity and a matter of national security for vulnerable nations. They highlight that while the IPCC provides the technical roadmap for "rapid and far-reaching" transitions, achieving these goals requires unprecedented investment from developed nations and international financial institutions. The text cites specific examples of renewable energy transitions in the Philippines and the Marshall Islands, and calls for the removal of $5 trillion in annual fossil fuel subsidies to drive a low-carbon global economy.

• Limiting global warming to 1.5 degrees Celsius is technically possible but requires "rapid and far-reaching" transitions across energy, industry, transport, buildings, cities, and land use.
• To meet the 1.5 degree Celsius target, global carbon dioxide emissions must decrease by approximately 45 percent from 2010 levels by 2030 and reach 'net zero' by the middle of the century.
• Strategic investments in smarter, more compact cities could generate $26 trillion in economic benefits and approximately 65 million low-carbon jobs by 2030.
• The Philippines and the Marshall Islands are implementing renewable energy transitions: the Philippines approved eight solar rooftop projects worth $1.65 billion, and the Marshall Islands is moving toward 100 percent renewable energy to reduce reliance on imported oil and diesel.
• Global economic stability is threatened by climate extremes that disrupt complex supply chains, and the authors call for the removal of estimated annual fossil fuel subsidies totaling $5 trillion.

APA

de Guzman, B. W. E. (2018). Climate change is an economic problem that needs fixing. Here's why. World Economic Forum. https://www.weforum.org/stories/climate-action/climate-change-is-an-economic-problem-lets-fix-it/

Chicago

de Guzman, Brenson Wase, Emmanuel. Climate change is an economic problem that needs fixing. Here's why. World Economic Forum, 2018. https://www.weforum.org/stories/climate-action/climate-change-is-an-economic-problem-lets-fix-it/.

Wikipedia

{{cite press release |last1=de Guzman |first1=Brenson Wase, Emmanuel |title=Climate change is an economic problem that needs fixing. Here's why |publisher=World Economic Forum |date=1 November 2018 |url=https://www.weforum.org/stories/climate-action/climate-change-is-an-economic-problem-lets-fix-it/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{deguzman2018climate, author = {de Guzman, Brenson Wase, Emmanuel}, title = {{Climate change is an economic problem that needs fixing. Here's why}}, publisher = {World Economic Forum}, year = {2018}, month = nov, url = {https://www.weforum.org/stories/climate-action/climate-change-is-an-economic-problem-lets-fix-it/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }