Asia Pacific could see an economic gain of $47 trillion if rapid decarbonization efforts are taken, according to the Deloitte Economic Institute. Watch the video with Deloitte's latest report here:
– to loss of pasture for herd animals to interruptions in the supply chain due to natural disasters, the gross domestic products of countries across the world are taking hits. The world’s workforce is also facing challenges from global warming, from instances of heat stress or reduced productivity and diminished well-being.found that by 2050, with global average warming exceeding 2 degrees Celsius, GDP in Asia Pacific alone would be more than 5.5 percent lower than if global warming was halted.
Economic structures must be radically transformed using a series of interconnected, low-emission systems spanning energy, mobility, manufacturing, and food and land use. “Based on Deloitte’s modeling, the benefits of taking swift climate action would be immediate and would scale rapidly for Asia Pacific,” says Hook, who points to analysis that says the structural adjustment costs of rapid decarbonization would be nearly immediately offset by gains from improvements.
“If Asia Pacific can decarbonize its coal-based energy sector, it would lead to an immediate and significant reduction in global emissions of around 14 percent,” adds Hook. She points to working examples such as China’s 2020 introduction of the second-largest solar farm in the world, which has a capacity of 2.2 gigawatts, and India’s 100-megawatt capacity floating solar power plant under construction today.
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