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Climate-smart Policies To Boost Global GDP Up To USD2.6 Trillion A Year: WB

June 24, 2014

VIENNA (Alliance News) - Climate-friendly development projects could boost global economic output, in addition to saving lives and energy, a study by the World Bank said Tuesday.

"Climate-smart" policies by governments could boost world GDP growth by at least USD1.8 trillion-USD2.6 trillion per year by 2030, the report said. Such policies would also reduce premature deaths by 94,000 a year, the study added.

The study examined the multiple benefits for a series of policy scenarios addressing transportation and energy efficiency in buildings and industry in Brazil, China, India, Mexico, the US and the EU.

The study explored how government actions can boost economic performance and benefit lives, jobs, crops, energy, and GDP - as well as emissions reductions to combat climate change.

"Together, implementing these policies could represent about 30% of the total reduction needed in 2030 to limit global warming to 2 degrees Celsius," the report said.

The report was co-authored by San Francisco-based ClimateWorks Foundation.

"The report's findings show clearly that the right policy choices can deliver significant benefits to lives, jobs, crops, energy, and GDP - as well as emissions reductions to combat climate change," World Bank Group President Jim Yong Kim said.

In a conference call to reporters, Kim said the report removed 'another false barrier, another false argument' not to take action against climate change.

The report suggested that if the five countries and the EU relied more on public transit, shifted more freight traffic to rails and sea and improved fuel efficiency, they could save about 20,000 lives a year, avert hundreds of millions of dollars in crop losses, save nearly USD300 billion in energy, and reduce climate changing emissions by more than four gigatons.

The study also found that if Brazil's landfill technology that captures methane to produce electricity, were scaled up nationwide over 20 years, it could create more than 44,000 jobs, increase GDP by more than USD13 billion, and reduce emissions by 158 million tons of CO2-equivalent.

The report also studied the benefits of expanding bus rapid transit in India, more use of clean cook-stoves in rural China and the use of solar panels and bio-digesters to produce electricity from agriculture waste in Mexico.

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Source: Alliance News

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