Not addressing climate change costs the economy more. When will we finally get this?
Climate change is already causing severe economic damage through extreme weather, declining productivity, destroyed infrastructure and rising costs, making inaction more expensive than reducing emissions, write Christina Caron, a former federal public service executive, and Glen Hodgson, a former member of Canada’s Ecofiscal Commission. They note that evidence from central banks, international organizations and economists shows that transitioning to renewable energy and a net-zero economy would cost less in the long run than continuing to rely on fossil fuels. “There are significant growth, job creation and innovation opportunities from investment in low-carbon energy sources and technologies, in alignment with burgeoning global demand. We are at a pivot point. The global growth paradigm has shifted, and Canada needs to skate to where the puck is going, not where it used to be,” they wrote.
